Whitakers, North Carolina Property Taxes
The median property tax rate in Whitakers, NC is 1.23%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Whitakers at $62,548, the typical annual property tax bill reaches $743, which is below the national median of $2,690. Property taxes in Whitakers are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Whitakers' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Whitakers 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
Whitakers, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$769
Ownwell’s Whitakers Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitakers with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitakers 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 Whitakers, North Carolina
Property taxes in Whitakers, 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 Whitakers is 1.23%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Whitakers set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitakers 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 Whitakers' effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27891 zip code has the highest median property tax rate of 1.23%, while the same 27891 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Whitakers 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 Whitakers Tax Rate
1.23%
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 Whitakers, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27891 | 1.04% | 1.12% | 1.23% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Whitakers, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Whitakers, North Carolina. 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. 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 Whitakers helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Whitakers is $62,548, with the highest and lowest median tax bills both at $743 in the 27891 zip code.
Average Whitakers Assessed Value
$62,548
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 Whitakers, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27891 | $16,514 | $31,758 | $62,548 | $88,622 | $129,497 |
Source: Ownwell
Property Tax Bills Across Whitakers, North Carolina
In Whitakers, located in Edgecombe County, NC, property tax bills are calculated based on the assessed value of a home. The county assesses properties to determine their taxable value, which is then multiplied by the local tax rate to compute the annual tax bill. For example, with a median home price of $62,548, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Several factors influence the tax bill, including the assessed value of the home, any applicable exemptions, and the local tax rate. In Whitakers, the tax bill at the 25th percentile is around $430, while it rises to $1,130 at the 75th percentile, and reaches approximately $1,561 at the 90th percentile. These figures highlight the variability in tax obligations among homeowners in the area, reflecting differences in property values and potential exemptions. For homeowners, understanding these factors is crucial, as property taxes can significantly impact annual housing costs. Comparing these figures to the national median property tax rate of 0.99% helps put local tax burdens into perspective.
Average Whitakers Tax Bill
$743
Average Edgecombe County Tax Bill
$709
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitakers, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27891 | $212 | $430 | $743 | $1,130 | $1,561 |
Source: Ownwell