Kinston, North Carolina Property Taxes
The median property tax rate in Kinston, NC is 1.61%, significantly higher than the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $65,943 in Kinston, the typical annual property tax bill amounts to $781, which is below the national median of $2,690. Property taxes here 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 significant annual savings. Whether you're in the heart of Kinston 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
Kinston, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$1,062
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, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kinston is 1.61%, significantly higher than 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 North Carolina and the national median. For comparison, the 28501 zip code has the highest median property tax rate of 1.61%, while the 28504 zip code has the lowest median tax rate of 1.02%. Understanding how these areas compare with Kinston provides valuable insights into the varying tax landscape across Lenoir County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kinston Tax Rate
1.61%
Average Lenoir County Tax Rate
1.07%
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 | 0.91% | 1.12% | 1.61% | 1.62% | 1.62% |
| 28504 | 0.90% | 0.94% | 1.02% | 1.61% | 1.62% |
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 Lenoir 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. For instance, the median home price in Kinston is $65,943, with tax bills ranging from the 25th percentile at $405 to the 90th percentile at $1,937. The highest median tax bill is found in the 28504 zip code at $948, while the lowest median tax bill is in the 28501 zip code at $578. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Kinston Assessed Value
$65,943
Average Lenoir County Assessed Value
$66,089
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 | $11,367 | $20,491 | $41,983 | $75,097 | $128,046 |
| 28504 | $23,466 | $52,849 | $87,452 | $121,106 | $171,714 |
Source: Ownwell
Property Tax Bills Across Kinston, North Carolina
In Kinston, located in Lenoir County, NC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this assessed value. For homeowners in Kinston, the median home price is $65,943, leading to varying tax bills. The 25th percentile tax bill is $405, while the 75th percentile reaches $1,282. At the higher end, the 90th percentile tax bill can be as much as $1,937. These figures are influenced by the specific characteristics of each property and the local tax rate. Comparatively, the national median property tax rate is 0.99%, making Kinston's property taxes relatively moderate. Homeowners in the highest median tax bill zip code, 28504, can expect to pay around $948, whereas those in the lowest median tax bill zip code, 28501, might pay closer to $578. This variability underscores the importance of understanding how local factors impact property tax obligations.
Average Kinston Tax Bill
$781
Average Lenoir County Tax Bill
$738
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 | $158 | $301 | $578 | $999 | $1,590 |
| 28504 | $260 | $561 | $948 | $1,473 | $2,095 |
Source: Ownwell