Erwin, North Carolina Property Taxes
The median property tax rate in Erwin, NC is 1.20%, 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 Erwin, the typical annual property tax bill reaches $1,260, exceeding the national median of $2,690. Property taxes in Erwin 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 Erwin'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 Erwin 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
Erwin, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,490
Ownwell’s Erwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Erwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erwin 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 Erwin, North Carolina
Property taxes in Erwin, NC, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erwin is 1.20%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Erwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erwin 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 Erwin's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28339 zip code in Harnett County has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Erwin provides valuable insights into the varying tax landscape across Harnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erwin Tax Rate
1.20%
Average Harnett County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28339 | 0.70% | 0.74% | 1.20% | 1.24% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Erwin, North Carolina
In Erwin, 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 Harnett 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 Erwin, 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 Erwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Erwin is $124,172, with tax bills ranging from $867 at the 25th percentile to $2,287 at the 90th percentile. The zip code 28339 has the highest and lowest median tax bill at $1,260.
Average Erwin Assessed Value
$124,172
Average Harnett County Assessed Value
$199,846
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28339 | $62,609 | $90,706 | $124,172 | $176,510 | $249,793 |
Source: Ownwell
Property Tax Bills Across Erwin, North Carolina
In Erwin, located in Harnett 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 assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For example, with a median home price of $124,172 in Erwin, homeowners can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is approximately $867, while at the 75th percentile, it rises to around $1,749. For those at the 90th percentile, the tax bill can reach up to $2,287. Comparatively, the highest median tax bill in the area is $1,260, which is still below the national median property tax rate of 0.99%. These tax bills impact homeowners by contributing to community services, such as schools and infrastructure, but they also represent a significant annual expense that must be budgeted accordingly.
Average Erwin Tax Bill
$1,260
Average Harnett County Tax Bill
$1,570
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Erwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28339 | $564 | $867 | $1,260 | $1,749 | $2,287 |
Source: Ownwell