Shawboro, North Carolina Property Taxes
The median property tax rate in Shawboro, NC is 0.66%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $163,900 in Shawboro, the typical annual property tax bill amounts to $1,073, which is significantly below the national median of $2,690. Property taxes in Shawboro are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Shawboro'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 Shawboro or another part of Currituck County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shawboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,082
Ownwell’s Shawboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shawboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shawboro 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 Shawboro, North Carolina
Property taxes in Shawboro, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shawboro is 0.66%, lower than the U.S. national median of 0.99%. Local government entities within Shawboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shawboro 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 Shawboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27973 zip code 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 cities compare with Shawboro provides valuable insights into the varying tax landscape across Currituck County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shawboro Tax Rate
0.66%
Average Currituck County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shawboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27973 | 0.27% | 0.56% | 0.66% | 0.73% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Shawboro, North Carolina
In Shawboro, 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 Currituck 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 Shawboro, 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 Shawboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shawboro is $163,900, with tax bills ranging from $700 at the 25th percentile to $2,397 at the 90th percentile. The highest and lowest median tax bills are both $1,073 in the 27973 zip code.
Property Tax Assessment Values Across Shawboro, North Carolina
Source: Ownwell
$97,200
$300,600
$504,000
Average Shawboro Assessed Value
$163,900
Average Currituck County Assessed Value
$330,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shawboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27973 | $64,960 | $99,500 | $163,900 | $276,200 | $477,880 |
Source: Ownwell
Property Tax Bills Across Shawboro, North Carolina
In Shawboro, located in Currituck 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 Shawboro is $163,900. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $700 and the 75th percentile reaching $1,556. For those at the 90th percentile, the tax bill can be as high as $2,397. The local tax rate is applied to the assessed value of the property to determine the final tax bill. This assessed value is influenced by factors such as the property's market value, location, and any improvements made to the home. Homeowners in Shawboro should be aware that their property tax bills can have a significant impact on their annual expenses. When compared to the national median property tax rate of 0.99%, Shawboro's property tax rates can be considered relatively moderate, but it's crucial for homeowners to understand how these taxes are calculated and budget accordingly.
Average Shawboro Tax Bill
$1,073
Average Currituck County Tax Bill
$2,308
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Shawboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27973 | $362 | $700 | $1,073 | $1,556 | $2,397 |
Source: Ownwell