Kinston, North Carolina Property Taxes
The median property tax rate in Kinston, NC is 0.72%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Kinston at $85,410, the typical annual property tax bill is $602, well below the national median of $2,690. Property taxes in Kinston are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Kinston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kinston or another part of Jones County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kinston, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$615
-$6,445
Ownwell’s Kinston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kinston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kinston 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 Kinston, North Carolina
Property taxes in Kinston, 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 Kinston is 0.72%, which is below the U.S. national median of 0.99%. Local government entities within Kinston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kinston 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 Kinston's effective property tax rate to other areas in Jones County and the national median. For comparison, the 28501 zip code has the highest median property tax rate of 0.73%, while the 28504 zip code has the lowest median tax rate of 0.72%. Understanding how these cities compare with Kinston provides valuable insights into the varying tax landscape across Jones County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kinston Tax Rate
0.72%
Average Jones County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kinston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28501 | 0.40% | 0.72% | 0.73% | 0.75% | 0.75% |
| 28504 | 0.63% | 0.72% | 0.72% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Kinston, North Carolina
In Kinston, 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 Jones 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 Kinston, 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 Kinston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $615 in the 28504 zip code, while the lowest is $595 in the 28501 zip code.
Average Kinston Assessed Value
$85,410
Average Jones County Assessed Value
$91,440
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kinston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28501 | $17,140 | $56,072 | $85,310 | $126,968 | $201,610 |
| 28504 | $45,430 | $68,090 | $89,560 | $160,660 | $182,930 |
Source: Ownwell
Property Tax Bills Across Kinston, North Carolina
In Kinston, property tax bills are calculated based on the assessed value of a home, which is determined by the Jones County tax assessor. The median home price in Kinston is $85,410. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location and any applicable exemptions. For instance, homeowners in zip code 28504 see the highest median tax bill at $615, while those in zip code 28501 experience a slightly lower median at $595. Homeowners in Kinston typically receive tax bills ranging from $346 at the 25th percentile to $824 at the 75th percentile, with the 90th percentile reaching up to $1,317. These figures highlight the variability in tax bills that homeowners can expect, which can significantly impact household budgets. Compared to the national median property tax rate of 0.99%, Kinston's property taxes can be considered relatively moderate, providing some relief to homeowners in the region.
Average Kinston Tax Bill
$602
Average Jones County Tax Bill
$672
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Kinston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28501 | $127 | $342 | $595 | $821 | $1,315 |
| 28504 | $340 | $502 | $615 | $971 | $1,317 |
Source: Ownwell