Jamesville, North Carolina Property Taxes
The median property tax rate in Jamesville, NC is 1.09%, which is higher than both the national median of 0.99% and North Carolina's state median of 0.82%. With a median home value of $33,360 in Jamesville, the typical annual property tax bill is $374, surpassing the national median of $2,690. Property taxes in Jamesville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Jamesville'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 Jamesville 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
Jamesville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$364
Ownwell’s Jamesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jamesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jamesville 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 Jamesville, North Carolina
Property taxes in Jamesville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jamesville is 1.09%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Jamesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jamesville 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 Jamesville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27846 zip code has the highest median property tax rate of 1.09%, while the 27846 zip code has the lowest median tax rate of 1.09%. Understanding how these cities compare with Jamesville provides valuable insights into the varying tax landscape across Martin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jamesville Tax Rate
1.09%
Average Martin County Tax Rate
1.26%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jamesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27846 | 0.88% | 0.88% | 1.09% | 1.45% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Jamesville, North Carolina
In Jamesville, 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 Martin 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. 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 Jamesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $374 in zip code 27846, while the lowest is also $374 in the same zip code.
Property Tax Assessment Values Across Jamesville, North Carolina
Source: Ownwell
$15,035
$53,973
$92,910
Average Jamesville Assessed Value
$33,360
Average Martin County Assessed Value
$43,060
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jamesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27846 | $9,186 | $12,750 | $33,360 | $55,108 | $154,156 |
Source: Ownwell
Property Tax Bills Across Jamesville, North Carolina
In Jamesville, Martin County, NC, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the local property tax rate to calculate the annual tax bill. Factors such as the home's location, size, and condition play a crucial role in determining its assessed value. Homeowners in Jamesville experience a range of property tax bills, with the 25th percentile at $214 and the 75th percentile at $676. At the higher end, the 90th percentile tax bill reaches $1,552. Compared to the national median property tax rate of 0.99%, Jamesville's tax rates can vary significantly, impacting homeowners differently based on their property's assessed value. For instance, homes in the zip code 27846 have a median tax bill of $374. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Jamesville Tax Bill
$374
Average Martin County Tax Bill
$622
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Jamesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27846 | $86 | $214 | $374 | $676 | $1,552 |
Source: Ownwell