Shannon, North Carolina Property Taxes
The median property tax rate in Shannon, NC is 0.92%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $59,500 in Shannon, the typical annual property tax bill is $540, which is significantly less than the national median of $2,690. Property taxes in Shannon are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Shannon'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 Shannon 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
Shannon, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$547
Ownwell’s Shannon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shannon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shannon 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 Shannon, North Carolina
Property taxes in Shannon, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shannon is 0.92%, slightly lower than the U.S. national median of 0.99%. Local government entities within Shannon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shannon 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 Shannon's effective property tax rate to other areas in Robeson County and the national median. For comparison, the zip code 28386 has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these areas compare with Shannon provides valuable insights into the varying tax landscape across Robeson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shannon Tax Rate
0.92%
Average Robeson County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shannon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28386 | 0.87% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Shannon, North Carolina
In Shannon, 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 Robeson 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 Shannon, 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 Shannon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shannon is $59,500, with the highest and lowest median tax bills both recorded at $540 in the zip code 28386.
Average Shannon Assessed Value
$59,500
Average Robeson County Assessed Value
$69,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shannon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28386 | $27,630 | $39,300 | $59,500 | $91,425 | $143,940 |
Source: Ownwell
Property Tax Bills Across Shannon, North Carolina
In Shannon, located in Robeson County, NC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Homeowners in Shannon pay a median property tax bill of $540, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. For example, homes in the 25th percentile of property taxes in Shannon have a tax bill of $357, while those in the 75th percentile pay around $835. Homes in the 90th percentile see tax bills as high as $1315. These variations can affect homeowners' annual budgets and financial planning. Understanding these factors can help homeowners anticipate their tax obligations and potentially seek exemptions or appeals to lower their tax burden.
Average Shannon Tax Bill
$540
Average Robeson County Tax Bill
$623
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Shannon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28386 | $253 | $357 | $540 | $835 | $1,315 |
Source: Ownwell