Trent Woods, North Carolina Property Taxes
The median property tax rate in Trent Woods, NC is 0.66%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $308,730 in Trent Woods, the typical annual property tax bill amounts to $2,036, which is below the national median of $2,690. Property taxes in Trent Woods are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Trent Woods' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Trent Woods 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
Trent Woods, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$2,038
Ownwell’s TRENT WOODS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TRENT WOODS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TRENT WOODS 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 Trent Woods, North Carolina
Property taxes in Trent Woods, 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 Trent Woods is 0.66%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Trent Woods set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trent Woods 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 Trent Woods' effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28562 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with Trent Woods provides valuable insights into the varying tax landscape across Craven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trent Woods Tax Rate
0.66%
Average Craven County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trent Woods, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28562 | 0.65% | 0.66% | 0.66% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Trent Woods, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Trent Woods, NC. 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 Craven County 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 Trent Woods, 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 Trent Woods helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,036, found in the 28562 zip code.
Property Tax Assessment Values Across Trent Woods, North Carolina
Source: Ownwell
$106,165
$346,580
$586,995
Average Trent Woods Assessed Value
$308,730
Average Craven County Assessed Value
$192,005
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trent Woods, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28562 | $212,362 | $245,180 | $308,730 | $440,652 | $677,902 |
Source: Ownwell
Property Tax Bills Across Trent Woods, North Carolina
In Trent Woods, Craven County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Trent Woods experience a range of property tax bills, with the 25th percentile at $1,622 and the 75th percentile at $2,876. The tax bill can go as high as $4,421 for those in the 90th percentile. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The local tax rate in Trent Woods is a crucial determinant, as it is applied to the assessed value to calculate the total tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Trent Woods may find their bills relatively moderate. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Trent Woods Tax Bill
$2,036
Average Craven County Tax Bill
$1,328
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Trent Woods, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28562 | $1,409 | $1,622 | $2,036 | $2,876 | $4,421 |
Source: Ownwell