Tyner, North Carolina Property Taxes
The median property tax rate in Tyner, NC is 0.73%, which is notably lower than the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $139,402 in Tyner, the typical annual property tax bill amounts to $936, significantly below the national median of $2,690. Property taxes in Tyner are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Tyner’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Tyner or another part of Chowan County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tyner, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,018
Ownwell’s Tyner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tyner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tyner 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 Tyner, North Carolina
Property taxes in Tyner, North Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tyner is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Tyner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tyner 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 Tyner's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27980 zip code has the highest median property tax rate of 0.73%, while the lowest median tax rate is also 0.73%, highlighting a uniformity in tax rates within Chowan County. Understanding how these areas compare with Tyner provides valuable insights into the varying tax landscape across Chowan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tyner Tax Rate
0.73%
Average Chowan County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tyner, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27980 | 0.37% | 0.73% | 0.73% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Tyner, North Carolina
In Tyner, 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 Chowan 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 Tyner, 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. For instance, the median home price in Tyner is $139,402, with tax bills ranging from $600 at the 25th percentile to $2,158 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tyner Assessed Value
$139,402
Average Chowan County Assessed Value
$147,626
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tyner, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27980 | $60,144 | $95,876 | $139,402 | $222,663 | $320,858 |
Source: Ownwell
Property Tax Bills Across Tyner, North Carolina
In Tyner, located in Chowan County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in this region is $139,402. Homeowners can expect their tax bills to vary significantly depending on the assessed value of their property. For instance, the 25th percentile tax bill is around $600, while the 75th percentile tax bill rises to $1,532. At the 90th percentile, homeowners might pay as much as $2,158. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. The highest and lowest median tax bills in the area are both $936, indicating some consistency in property tax assessments within certain zip codes. Compared to the national median property tax rate of 0.99%, Tyner homeowners may find their tax obligations to be relatively manageable, although individual circumstances can vary widely. This variability in tax bills can significantly impact homeowners, affecting their overall financial planning and homeownership costs.
Average Tyner Tax Bill
$936
Average Chowan County Tax Bill
$1,115
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Tyner, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27980 | $346 | $600 | $936 | $1,532 | $2,158 |
Source: Ownwell