Sunbury, North Carolina Property Taxes
The median property tax rate in Sunbury, NC is 1.03%, slightly above both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Sunbury at $115,271, the typical annual property tax bill reaches $1,169, which is below the national median of $2,690. Property taxes in Sunbury are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sunbury's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sunbury or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sunbury, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,187
Ownwell’s Sunbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunbury to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sunbury, North Carolina
Property taxes in Sunbury, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sunbury is 1.03%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Sunbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunbury estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Sunbury's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27979 zip code has the highest median property tax rate of 1.03%, while the 27979 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Sunbury provides valuable insights into the varying tax landscape across Gates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sunbury Tax Rate
1.03%
Average Gates County Tax Rate
1.03%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sunbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27979 | 0.65% | 0.90% | 1.03% | 1.15% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Sunbury, North Carolina
In Sunbury, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Sunbury, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Sunbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sunbury are both $1,169, found in the zip code 27979.
Average Sunbury Assessed Value
$115,271
Average Gates County Assessed Value
$119,144
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sunbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27979 | $43,759 | $75,264 | $115,271 | $184,026 | $275,723 |
Source: Ownwell
Property Tax Bills Across Sunbury, North Carolina
In Sunbury, located in Gates County, NC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Sunbury has a median price of $115,271. Homeowners in Sunbury can expect their tax bills to vary significantly based on the value of their property and the local tax rate. For example, tax bills in Sunbury range from the 25th percentile at $817 to the 75th percentile at $1654, with the 90th percentile reaching $2287. These figures illustrate the variability in property tax bills depending on property values. The highest median tax bill in the area is $1169, which aligns with the lowest median tax bill, indicating a consistent tax rate across properties. Compared to the national median property tax rate of 0.99%, Sunbury's rates can have a substantial impact on homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Sunbury Tax Bill
$1,169
Average Gates County Tax Bill
$1,215
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sunbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27979 | $500 | $817 | $1,169 | $1,654 | $2,287 |
Source: Ownwell