Whitsett, North Carolina Property Taxes
The median property tax rate in Whitsett, NC is 0.82%, aligning with the North Carolina state median but lower than the national median of 0.99%. With a median home value of $193,900 in Whitsett, the typical annual property tax bill amounts to $1,763, which is below the national median of $2,690. Property taxes in Whitsett 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 land. Understanding Whitsett'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 Whitsett or another part of Guilford County, comprehending the local property tax framework will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitsett, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,590
Ownwell’s Whitsett Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers aiming to estimate their annual property taxes in Whitsett. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Whitsett to provide an accurate property tax bill estimate. This user-friendly tool offers clear insights into your potential tax liabilities, ensuring you are well-informed. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Guilford County, is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Whitsett, North Carolina
Property taxes in Whitsett, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitsett is 0.82%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Whitsett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitsett 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 Whitsett's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27377 zip code has the same median property tax rate of 0.82%. Understanding how these cities compare with Whitsett provides valuable insights into the varying tax landscape across Guilford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitsett Tax Rate
0.82%
Average Guilford County Tax Rate
1.35%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitsett, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27377 | 0.81% | 0.81% | 0.82% | 0.88% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Whitsett, North Carolina
In Whitsett, 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 Guilford 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 Whitsett, 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 Whitsett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Whitsett are both $1,763, found in the 27377 zip code.
Property Tax Assessment Values Across Whitsett, North Carolina
Source: Ownwell
$15,000
$189,700
$364,400
Average Whitsett Assessed Value
$193,900
Average Guilford County Assessed Value
$164,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitsett, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27377 | $69,990 | $134,900 | $193,900 | $284,725 | $361,820 |
Source: Ownwell
Property Tax Bills Across Whitsett, North Carolina
In Whitsett, property tax bills are calculated based on the assessed value of a home, which is determined by the Guilford County tax assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, the median home price in Whitsett is $193,900. Homeowners in the 25th percentile pay around $1,123 annually, while those in the 75th percentile see tax bills closer to $2,464. At the 90th percentile, property tax bills can soar to approximately $3,281. These tax bills significantly impact homeowners, influencing their overall cost of living and potentially affecting their decisions on buying or selling property. Compared to the national median property tax rate of 0.99%, Whitsett's tax rates can vary, but the tax burden remains a critical consideration for residents. Understanding these factors is essential for homeowners to manage their finances effectively and anticipate future expenses.
Average Whitsett Tax Bill
$1,763
Average Guilford County Tax Bill
$1,922
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitsett, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27377 | $609 | $1,123 | $1,763 | $2,464 | $3,281 |
Source: Ownwell