Plymouth, North Carolina Property Taxes
The median property tax rate in Plymouth, NC is 0.91%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $80,605 in Plymouth, the typical annual property tax bill is $726, which is significantly below the national median of $2,690. Property taxes in Plymouth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Plymouth'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 Plymouth 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
Plymouth, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$734
Ownwell’s Plymouth Property Tax Bill Calculator is an indispensable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Plymouth. By simply entering your property's estimated assessed value, the calculator applies the local median tax rate to provide an accurate estimate of your property tax bill. This valuable insight helps you understand potential tax liabilities and plan accordingly. For those interested in more granular data, you can explore trends at the neighborhood level by scrolling down for localized information. Your property’s assessed value is determined by the county and includes any applicable exemptions, ensuring a precise calculation tailored to your specific situation.
Property Tax Rates Across Plymouth, North Carolina
Property taxes in Plymouth, North Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth is 0.91%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth 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 Plymouth's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27962 has the highest median property tax rate of 0.91%, while also having the lowest median tax rate of 0.91%. Understanding how these cities compare with Plymouth provides valuable insights into the varying tax landscape across Beaufort County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plymouth Tax Rate
0.91%
Average Beaufort County Tax Rate
0.92%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27962 | 0.69% | 0.81% | 0.91% | 1.00% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth, North Carolina
In Plymouth, 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 Beaufort 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 Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Plymouth is $80,605, with tax bills ranging from the 25th percentile at $548 to the 90th percentile at $1,404. The highest and lowest median tax bills are both $726, found in the 27962 zip code.
Property Tax Assessment Values Across Plymouth, North Carolina
Source: Ownwell
$50,925
$132,433
$213,941
Average Plymouth Assessed Value
$80,605
Average Beaufort County Assessed Value
$101,488
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plymouth, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27962 | $42,243 | $57,916 | $80,605 | $116,912 | $177,941 |
Source: Ownwell
Property Tax Bills Across Plymouth, North Carolina
In Plymouth, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $80,605, homeowners can expect a tax bill ranging from $548 at the 25th percentile to $1,404 at the 90th percentile. The median property tax bill in Plymouth is $726, which is lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These factors collectively impact homeowners by determining the amount they need to pay annually. Lower tax bills can make homeownership more affordable, while higher tax bills may place a financial burden on residents. Understanding these elements can help homeowners better anticipate their annual expenses and plan accordingly.
Average Plymouth Tax Bill
$726
Average Beaufort County Tax Bill
$970
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27962 | $453 | $548 | $726 | $945 | $1,404 |
Source: Ownwell