Willow Spring, North Carolina Property Taxes
The median property tax rate in Willow Spring, NC is 0.79%, 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 $200,110 in Willow Spring, the typical annual property tax bill amounts to $1,537, significantly below the national median of $2,690. Property taxes in Willow Spring are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding the property tax system in Willow Spring, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Willow Spring or another part of Johnston County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Willow Spring, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,581
Ownwell’s Willow Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Willow Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Willow Spring 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 Willow Spring, North Carolina
Property taxes in Willow Spring, 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 Willow Spring is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Willow Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willow Spring 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 Willow Spring's effective property tax rate to other areas in Johnston County and the national median. For comparison, the zip code 27592 has both the highest and lowest median property tax rate of 0.79%. Understanding how these areas compare with Willow Spring provides valuable insights into the varying tax landscape across Johnston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Willow Spring Tax Rate
0.79%
Average Johnston County Tax Rate
0.81%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willow Spring, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27592 | 0.78% | 0.78% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Willow Spring, North Carolina
In Willow Spring, 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 Johnston 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 Willow Spring, 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. The median home price in Willow Spring is $200,110, with tax bills ranging from $1,210 at the 25th percentile to $2,542 at the 90th percentile. The highest and lowest median tax bill in the area is $1,537, found in the 27592 zip code. 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 Willow Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Willow Spring, North Carolina
Source: Ownwell
$91,150
$173,400
$255,650
Average Willow Spring Assessed Value
$200,110
Average Johnston County Assessed Value
$190,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Willow Spring, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27592 | $132,100 | $156,660 | $200,110 | $263,975 | $333,563 |
Source: Ownwell
Property Tax Bills Across Willow Spring, North Carolina
In Willow Spring, located in Johnston County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $200,110, homeowners can expect tax bills to vary. At the 25th percentile, tax bills are around $1,210, while at the 75th percentile, they rise to approximately $2,036. The top 10% of tax bills can reach up to $2,542. Factors influencing the tax bill include the property's location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Willow Spring's tax bills reflect the local economic conditions and funding requirements for public services. Homeowners in this area should be aware of these factors as they directly affect their annual financial obligations and the overall cost of homeownership.
Average Willow Spring Tax Bill
$1,537
Average Johnston County Tax Bill
$1,676
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Willow Spring, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27592 | $975 | $1,210 | $1,537 | $2,036 | $2,542 |
Source: Ownwell