Wagram, North Carolina Property Taxes
The median property tax rate in Wagram, NC is 1.18%, higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value in Wagram of $54,890, the typical annual property tax bill reaches $690, which is below the national median of $2,690. Property taxes in Wagram are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wagram'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 Wagram or another part of Scotland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wagram, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$648
Ownwell’s Wagram Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wagram with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wagram 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 Wagram, North Carolina
Property taxes in Wagram, 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 Wagram is 1.18%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Wagram set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wagram 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 Wagram's effective property tax rate to other areas in Scotland County and the national median. For comparison, the zip code 28396 has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Wagram provides valuable insights into the varying tax landscape across Scotland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wagram Tax Rate
1.18%
Average Scotland County Tax Rate
1.11%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wagram, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28396 | 0.86% | 1.07% | 1.18% | 1.71% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Wagram, North Carolina
In Wagram, 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 Scotland 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 Wagram, 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. The median home price in Wagram is $54,890, with tax bills ranging from $296 at the 25th percentile to $2,536 at the 90th percentile. The zip code 28396 has the highest median tax bill of $690. Being aware of these valuation processes in Wagram helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wagram Assessed Value
$54,890
Average Scotland County Assessed Value
$54,325
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wagram, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28396 | $9,039 | $25,020 | $54,890 | $131,118 | $244,537 |
Source: Ownwell
Property Tax Bills Across Wagram, North Carolina
In Wagram, NC, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local tax assessors who evaluate the property's market value and then apply a specific assessment ratio. Once the assessed value is established, the local tax rate, also known as the mill rate, is applied to calculate the annual tax bill. For homeowners in Wagram, property tax bills can significantly vary. For instance, the 25th percentile tax bill is $296, while the 75th percentile reaches $1,483, and the 90th percentile soars to $2,536. These variations depend on factors such as property size, location, and market conditions. The median home price in Wagram is $54,890, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, Wagram's property taxes can be a crucial factor for homeowners when budgeting for annual expenses, potentially impacting long-term financial planning and homeownership affordability.
Average Wagram Tax Bill
$690
Average Scotland County Tax Bill
$594
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Wagram, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28396 | $158 | $296 | $690 | $1,483 | $2,536 |
Source: Ownwell