Gates County Property Taxes
The median property tax rate in Gates County is 1.03%, which is slightly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Gates County, the typical annual property tax bill is $1,215, which is still below the national median of $2,690. Property taxes in Gates County are calculated based on the assessed value, which often falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural use. Understanding Gates County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can result in significant annual savings. Whether you live in Gatesville or another part of Gates County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gates County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,227
Ownwell’s Gates County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gates County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gates County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gates County, North Carolina
Property taxes in Gates County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gates County is 1.03%, which is higher than the U.S. national median of 0.99%. Local government entities within Gates County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gates County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Gates County's effective property tax rate with other areas and the national median. For comparison, the city of Roduco has one of the higher property tax rates in the region at 1.18%, while the city of Belvidere boasts one of the lowest at 0.98%. Analyzing how Gates County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gates County Tax Rate
1.03%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gates County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | 0.74% | 0.90% | 0.98% | 1.09% | 1.17% |
| Corapeake | 0.67% | 0.93% | 1.03% | 1.11% | 1.26% |
| Eure | 0.72% | 0.95% | 1.04% | 1.15% | 1.31% |
| Gates | 0.66% | 0.93% | 1.04% | 1.12% | 1.29% |
| Gatesville | 0.71% | 0.95% | 1.07% | 1.16% | 1.32% |
| Hobbsville | 0.58% | 0.87% | 1.00% | 1.10% | 1.31% |
| Roduco | 1.08% | 1.12% | 1.18% | 1.24% | 1.28% |
| Sunbury | 0.65% | 0.90% | 1.03% | 1.15% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Gates County, North Carolina
In Gates County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gates County Appraisal District. The assessed value, however, 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 in Gates County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in Gates County is found in Corapeake at $1,262, while the lowest is in Roduco at $1,110. Being aware of these valuation processes in Gates County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Gates County, North Carolina
Source: Ownwell
$97,638
$112,445
$127,252
Average Gates County Assessed Value
$119,144
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gates County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | $74,155 | $90,745 | $121,548 | $190,880 | $261,162 |
| Corapeake | $46,229 | $85,662 | $127,252 | $185,464 | $258,442 |
| Eure | $39,699 | $80,122 | $121,079 | $166,374 | $230,922 |
| Gates | $42,914 | $77,380 | $119,354 | $163,262 | $229,948 |
| Gatesville | $35,799 | $66,468 | $111,782 | $171,538 | $244,771 |
| Hobbsville | $39,982 | $76,521 | $123,310 | $191,767 | $283,740 |
| Roduco | $69,447 | $80,018 | $97,638 | $115,257 | $125,828 |
| Sunbury | $43,759 | $75,264 | $115,271 | $184,026 | $275,723 |
Source: Ownwell
Property Tax Bills Across Gates County, North Carolina
In Gates County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and reflects the market value of the property. Tax bills are then calculated by applying the local property tax rate to this assessed value. Homeowners in Gates County experience a range of tax bills. For instance, the 25th percentile tax bill is $779, while the 75th percentile reaches $1629, and the 90th percentile climbs to $2179. These figures show how property taxes can vary significantly within the county. The highest median tax bill in Gates County is found in Corapeake at $1262, whereas the lowest is in Roduco at $1110. Understanding these factors is crucial for homeowners as property taxes impact their annual financial planning and overall cost of homeownership, especially when compared to the national median property tax rate of 0.99%.
Average Gates County Tax Bill
$1,215
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Gates County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | $791 | $932 | $1,241 | $1,898 | $2,249 |
| Corapeake | $511 | $871 | $1,262 | $1,662 | $2,265 |
| Eure | $484 | $845 | $1,232 | $1,607 | $2,104 |
| Gates | $486 | $781 | $1,216 | $1,572 | $2,030 |
| Gatesville | $421 | $704 | $1,208 | $1,718 | $2,258 |
| Hobbsville | $458 | $737 | $1,241 | $1,702 | $2,224 |
| Roduco | $873 | $962 | $1,110 | $1,258 | $1,347 |
| Sunbury | $500 | $817 | $1,169 | $1,654 | $2,287 |
Source: Ownwell