Kenly, North Carolina Property Taxes
The median property tax rate in Kenly, NC is 0.84%, slightly above the state median of 0.82% but below the national median of 0.99%. With a median home value of $72,320, the typical annual property tax bill in Kenly is $659, significantly lower than the national median of $2,690. Property taxes in Kenly are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kenly'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 Kenly or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenly, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$607
Ownwell’s Kenly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenly 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 Kenly, North Carolina
Property taxes in Kenly, 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 Kenly is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Kenly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenly 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 Kenly's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27542 zip code has the same median property tax rate of 0.84%. Understanding how these cities compare with Kenly provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenly Tax Rate
0.84%
Average Wayne County Tax Rate
0.85%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenly, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27542 | 0.81% | 0.82% | 0.84% | 0.88% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Kenly, North Carolina
In Kenly, 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 Wayne 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 Kenly, 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. For instance, the median home price in Kenly is $72,320, with tax bills ranging from $300 at the 25th percentile to $1,791 at the 90th percentile. The highest median tax bill is $659 in the 27542 zip code, which also has the lowest median tax bill. By understanding 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 Kenly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kenly Assessed Value
$72,320
Average Wayne County Assessed Value
$66,340
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenly, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27542 | $13,788 | $30,470 | $72,320 | $134,655 | $208,960 |
Source: Ownwell
Property Tax Bills Across Kenly, North Carolina
In Kenly, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Wayne County tax assessor. The median home price in Kenly is $72,320, and the property tax rate is applied to this assessed value to calculate the annual tax bill. Factors that influence the tax bill include the home's assessed value, any applicable exemptions, and the local tax rate. Homeowners in Kenly can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is around $300, while the 75th percentile tax bill reaches $1,157. At the 90th percentile, homeowners might see tax bills as high as $1,791. The highest median tax bill within the zip code 27542 is $659, which can be compared to the national median property tax rate of 0.99%. These property taxes contribute to local services such as schools, infrastructure, and public safety, directly impacting the quality of life for Kenly residents.
Average Kenly Tax Bill
$659
Average Wayne County Tax Bill
$703
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenly, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27542 | $122 | $300 | $659 | $1,157 | $1,791 |
Source: Ownwell