Bessemer City, North Carolina Property Taxes
The median property tax rate in Bessemer City, NC is 1.38%, 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 Bessemer City at $99,595, the typical annual property tax bill reaches $1,481, which is below the national median of $2,690. Property taxes in Bessemer City 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 Bessemer City'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 Bessemer City or another part of Gaston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bessemer City, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,374
Ownwell’s Bessemer City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bessemer City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bessemer City 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 Bessemer City, North Carolina
Property taxes in Bessemer City, 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 Bessemer City is 1.38%, which is significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Bessemer City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bessemer City 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 Bessemer City's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28016 has both the highest and lowest median property tax rate of 1.38%. Understanding how these cities compare with Bessemer City provides valuable insights into the varying tax landscape across Gaston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bessemer City Tax Rate
1.38%
Average Gaston County Tax Rate
1.65%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bessemer City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28016 | 0.90% | 1.08% | 1.38% | 1.90% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Bessemer City, North Carolina
In Bessemer City, 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 Gaston 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 Bessemer City, 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 Bessemer City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $99,595, with tax bills ranging from $944 at the 25th percentile to $2,740 at the 90th percentile. The zip code with the highest and lowest median tax bill is 28016, both at $1,481.
Property Tax Assessment Values Across Bessemer City, North Carolina
Source: Ownwell
$48,800
$154,335
$259,870
Average Bessemer City Assessed Value
$99,595
Average Gaston County Assessed Value
$132,190
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bessemer City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28016 | $35,805 | $65,582 | $99,595 | $135,402 | $189,132 |
Source: Ownwell
Property Tax Bills Across Bessemer City, North Carolina
In Bessemer City, Gaston County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The process begins with the county assessor determining the assessed value, which is a percentage of the market value of the property. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For instance, with a median home price of $99,595, homeowners might expect varying tax bills depending on their property's assessed value. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Bessemer City can experience a wide range of tax bills, with the 25th percentile at $944 and the 75th percentile at $2,146. The 90th percentile tax bill can go up to $2,740, indicating significant variability based on individual property assessments. This variability directly impacts homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Bessemer City Tax Bill
$1,481
Average Gaston County Tax Bill
$2,130
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Bessemer City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28016 | $564 | $944 | $1,481 | $2,146 | $2,740 |
Source: Ownwell