Woodland, North Carolina Property Taxes
The median property tax rate in Woodland, NC is 1.13%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Woodland, the typical annual property tax bill reaches $661, which is significantly lower than the national median of $2,690. Property taxes in Woodland 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 Woodland'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 Woodland 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
Woodland, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$573
Ownwell’s Woodland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodland 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 Woodland, North Carolina
Property taxes in Woodland, North Carolina, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodland is 1.13%, which is higher than the U.S. national median of 0.99%. Local government entities within Woodland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodland 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 Woodland's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27897 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with Woodland provides valuable insights into the varying tax landscape across Hertford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodland Tax Rate
1.13%
Average Hertford County Tax Rate
1.29%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27897 | 0.83% | 0.89% | 1.13% | 1.43% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Woodland, North Carolina
In Woodland, 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 Hertford County 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 Woodland, 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 Woodland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $661 in the 27897 zip code, while the lowest median tax bill is also $661 in the same zip code.
Average Woodland Assessed Value
$50,693
Average Hertford County Assessed Value
$63,714
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27897 | $12,860 | $30,863 | $50,693 | $91,088 | $156,094 |
Source: Ownwell
Property Tax Bills Across Woodland, North Carolina
In Woodland, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Hertford County tax assessor. The median home price in Woodland is $50,693. The property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can affect the assessed value. Homeowners in Woodland can expect their tax bills to vary widely. The 25th percentile tax bill is around $436, while the 75th percentile tax bill reaches approximately $1,017. At the 90th percentile, tax bills can be as high as $1,464. The highest and lowest median tax bills in the area are both $661, which indicates some consistency in tax assessments within certain neighborhoods. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for Woodland residents. Compared to the national median property tax rate of 0.99%, Woodland's property tax rates can offer a more affordable option for homeowners.
Average Woodland Tax Bill
$661
Average Hertford County Tax Bill
$793
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27897 | $115 | $436 | $661 | $1,017 | $1,464 |
Source: Ownwell