Pfafftown, North Carolina Property Taxes
The median property tax rate in Pfafftown, NC is 0.94%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $197,000 in Pfafftown, the typical annual property tax bill amounts to $2,075, which is under the national median of $2,690. Property taxes in Pfafftown are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Pfafftown'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 Pfafftown or another part of Forsyth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pfafftown, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,852
Ownwell’s Pfafftown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pfafftown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pfafftown 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 Pfafftown, North Carolina
Property taxes in Pfafftown, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Pfafftown is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Pfafftown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pfafftown 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 Pfafftown's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27040 zip code has the highest median property tax rate of 0.94%, which is the same as Pfafftown's rate. Understanding how these cities compare with Pfafftown provides valuable insights into the varying tax landscape across Forsyth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pfafftown Tax Rate
0.94%
Average Forsyth County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pfafftown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27040 | 0.77% | 0.78% | 0.94% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Pfafftown, North Carolina
In Pfafftown, 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 Forsyth 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 Pfafftown, 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 highest median tax bill in Pfafftown is $2,075 in the 27040 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pfafftown, North Carolina
Source: Ownwell
$36,300
$196,950
$357,600
Average Pfafftown Assessed Value
$197,000
Average Forsyth County Assessed Value
$158,600
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pfafftown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27040 | $107,300 | $147,400 | $197,000 | $269,250 | $366,200 |
Source: Ownwell
Property Tax Bills Across Pfafftown, North Carolina
In Pfafftown, Forsyth County, NC, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is periodically evaluated by local authorities. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. The median home price in Pfafftown is $197,000, with property tax bills ranging significantly depending on the home's value and location. For instance, homeowners in the 25th percentile can expect a tax bill around $1,273, while those in the 75th percentile may face bills up to $2,984. In the 90th percentile, tax bills can reach approximately $3,847. The highest and lowest median tax bills both stand at $2,075 in the zip code 27040. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners should be aware of these factors as they significantly influence the overall cost of homeownership.
Average Pfafftown Tax Bill
$2,075
Average Forsyth County Tax Bill
$1,755
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Pfafftown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27040 | $808 | $1,273 | $2,075 | $2,984 | $3,847 |
Source: Ownwell