Pinnacle, North Carolina Property Taxes
The median property tax rate in Pinnacle, NC is 0.78%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value in Pinnacle of $129,800, the typical annual property tax bill amounts to $711, significantly below the national median of $2,690. Property taxes in Pinnacle are calculated based on the assessed value, which generally is lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Pinnacle'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 Pinnacle 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
Pinnacle, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,012
Ownwell’s Pinnacle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pinnacle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pinnacle 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 Pinnacle, North Carolina
Property taxes in Pinnacle, 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 Pinnacle is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Pinnacle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pinnacle 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 Pinnacle's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27043 has both the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Pinnacle 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 Pinnacle Tax Rate
0.78%
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 Pinnacle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27043 | 0.23% | 0.28% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Pinnacle, North Carolina
In Pinnacle, 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 Pinnacle, 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. Pinnacle's median home price is $129,800, with tax bills ranging from $547 at the 25th percentile to $3,315 at the 90th percentile. The zip code 27043 has both the highest and lowest median tax bill at $711. Being aware of these valuation processes in Pinnacle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pinnacle, North Carolina
Source: Ownwell
$36,300
$196,950
$357,600
Average Pinnacle Assessed Value
$129,800
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 Pinnacle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27043 | $78,840 | $91,500 | $129,800 | $609,400 | $622,360 |
Source: Ownwell
Property Tax Bills Across Pinnacle, North Carolina
In Pinnacle, Forsyth County, NC, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. The median home price in Pinnacle stands at $129,800, and with the tax rate applied, homeowners can expect varying tax bills. For instance, the 25th percentile tax bill is around $547, while the 75th percentile reaches approximately $1,188. The 90th percentile can soar up to $3,315, indicating significant variability based on property value and other factors. The highest and lowest median tax bills in the area are both recorded at $711 in the zip code 27043. These tax bills impact homeowners by influencing their annual financial planning and the affordability of homeownership. Compared to the national median property tax rate of 0.99%, Pinnacle's rates provide a benchmark for understanding local tax burdens. Homeowners must stay informed about these rates and assessed values to manage their property tax responsibilities effectively.
Average Pinnacle Tax Bill
$711
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 Pinnacle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27043 | $441 | $547 | $711 | $1,188 | $3,315 |
Source: Ownwell