Conetoe, North Carolina Property Taxes
The median property tax rate in Conetoe, NC is 1.41%, significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Conetoe at $59,488, the typical annual property tax bill reaches $797, which is below the national median of $2,690. Property taxes in Conetoe are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Conetoe'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 Conetoe or another part of Edgecombe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Conetoe, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$839
Ownwell’s Conetoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Conetoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Conetoe 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 Conetoe, North Carolina
Property taxes in Conetoe, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Conetoe is 1.41%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Conetoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Conetoe 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 Conetoe's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27819 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Conetoe provides valuable insights into the varying tax landscape across Edgecombe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Conetoe Tax Rate
1.41%
Average Edgecombe County Tax Rate
0.95%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Conetoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27819 | 1.07% | 1.41% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Conetoe, North Carolina
In Conetoe, 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 Edgecombe 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 Conetoe, 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 Conetoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 27819, both at $797, which is below the national median property tax rate of 0.99%.
Average Conetoe Assessed Value
$59,488
Average Edgecombe County Assessed Value
$68,521
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Conetoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27819 | $18,110 | $37,897 | $59,488 | $76,836 | $99,533 |
Source: Ownwell
Property Tax Bills Across Conetoe, North Carolina
In Conetoe, Edgecombe County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, the median home price in Conetoe stands at $59,488. Property tax rates are applied to this assessed value to calculate the annual tax bill. The tax bills in Conetoe vary significantly; the 25th percentile tax bill is around $453, while the 75th percentile reaches approximately $1,053. The 90th percentile tax bill can go up to $1,409. The median tax bill in the area, regardless of zip code, is $797. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Homeowners in Conetoe need to budget for these taxes as part of their annual homeownership costs, which can influence their overall financial planning and property investment decisions.
Average Conetoe Tax Bill
$797
Average Edgecombe County Tax Bill
$709
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Conetoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27819 | $230 | $453 | $797 | $1,053 | $1,409 |
Source: Ownwell