Walkertown, North Carolina Property Taxes
The median property tax rate in Walkertown, 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 of $127,400 in Walkertown, the typical annual property tax bill is $1,030, significantly below the national median of $2,690. Property taxes in Walkertown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Walkertown'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 Walkertown 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
Walkertown, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$994
Ownwell’s Walkertown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walkertown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walkertown 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 Forsyth County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Walkertown, North Carolina
Property taxes in Walkertown, 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 Walkertown is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Walkertown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walkertown 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 Walkertown's effective property tax rate to other areas in Forsyth County and the national median. For comparison, the 27051 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these areas compare with Walkertown 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 Walkertown 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 Walkertown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27051 | 0.78% | 0.78% | 0.78% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Walkertown, North Carolina
In Walkertown, 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 Walkertown, 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 Walkertown 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 in Walkertown is 27051, both having a median tax bill of $1,030.
Property Tax Assessment Values Across Walkertown, North Carolina
Source: Ownwell
$36,300
$196,950
$357,600
Average Walkertown Assessed Value
$127,400
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 Walkertown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27051 | $35,080 | $80,000 | $127,400 | $190,700 | $256,580 |
Source: Ownwell
Property Tax Bills Across Walkertown, North Carolina
Property tax bills in Walkertown, Forsyth County, NC, are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. For example, in Walkertown, the median home price is $127,400. Homeowners can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is around $606, while at the 75th percentile, it can reach $1,520. For those at the 90th percentile, the tax bill can go as high as $2,159. Comparing these figures to the national median property tax rate of 0.99%, Walkertown's property tax rates can be considered moderate. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in the area.
Average Walkertown Tax Bill
$1,030
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 Walkertown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27051 | $244 | $606 | $1,030 | $1,520 | $2,159 |
Source: Ownwell