Ferguson, North Carolina Property Taxes
The median property tax rate in Ferguson, NC is 0.75%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Ferguson, the typical annual property tax bill reaches $873, significantly below the national median of $2,690. Property taxes in Ferguson 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 Ferguson'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 Ferguson 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
Ferguson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$939
Ownwell’s Ferguson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferguson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferguson 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 Ferguson, North Carolina
Property taxes in Ferguson, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferguson is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Ferguson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferguson 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 Ferguson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28624 has both the highest and lowest median property tax rate of 0.75%, mirroring Ferguson's rate. Understanding how these areas compare with Ferguson provides valuable insights into the varying tax landscape across Wilkes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ferguson Tax Rate
0.75%
Average Wilkes County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferguson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28624 | 0.46% | 0.75% | 0.75% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Ferguson, North Carolina
In Ferguson, 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 Wilkes 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 Ferguson, 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 Ferguson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ferguson is $125,195, with the highest median tax bill recorded at $873 in zip code 28624.
Property Tax Assessment Values Across Ferguson, North Carolina
Source: Ownwell
$87,490
$155,103
$222,715
Average Ferguson Assessed Value
$125,195
Average Wilkes County Assessed Value
$107,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ferguson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28624 | $42,369 | $69,698 | $125,195 | $228,562 | $392,655 |
Source: Ownwell
Property Tax Bills Across Ferguson, North Carolina
In Ferguson, located in Wilkes County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Ferguson is $125,195, which serves as a basis for determining the tax bill. Tax authorities assess properties to establish their taxable value, and then apply the local tax rate to this assessed value. For homeowners in Ferguson, the tax bill can vary significantly. At the 25th percentile, the tax bill is around $466, while at the 75th percentile, it rises to $1,597. The 90th percentile sees tax bills as high as $2,740. Comparatively, the highest and lowest median tax bills in the area both stand at $873 in the zip code 28624. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated and the factors that influence them can help homeowners better manage their financial planning.
Average Ferguson Tax Bill
$873
Average Wilkes County Tax Bill
$770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferguson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28624 | $262 | $466 | $873 | $1,597 | $2,740 |
Source: Ownwell