Dallas, North Carolina Property Taxes
The median property tax rate in Dallas, NC is 0.67%, which is 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 Dallas at $274,325, the typical annual property tax bill is $1,832, well below the national median of $2,690. Property taxes in Dallas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Dallas'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 Dallas 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
Dallas, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,838
Ownwell’s Dallas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dallas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dallas 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 Dallas, North Carolina
Property taxes in Dallas, 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 Dallas is 0.67%, lower than the U.S. national median of 0.99%. Local government entities within Dallas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dallas 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. For comparison, the zip code 28034 has both the highest and lowest median property tax rate in the county at 0.67%. Understanding how these cities compare with Dallas provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dallas Tax Rate
0.67%
Average Lincoln County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dallas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28034 | 0.60% | 0.64% | 0.67% | 0.67% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Dallas, North Carolina
In Dallas, 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 Lincoln 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 Dallas, 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 Dallas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1832, found in the 28034 zip code, providing a benchmark for property owners to gauge their own tax obligations.
Average Dallas Assessed Value
$274,325
Average Lincoln County Assessed Value
$293,422
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dallas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28034 | $234,248 | $250,153 | $274,325 | $422,588 | $661,856 |
Source: Ownwell
Property Tax Bills Across Dallas, North Carolina
In Dallas, Lincoln 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 determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For instance, homes in zip code 28034 have a median tax bill of $1,832, which is consistent across the area. The typical tax bill in Dallas varies, with the 25th percentile at $1,681 and the 75th percentile reaching $2,624. The 90th percentile tax bill can be as high as $3,879. Homeowners in Dallas may find their property tax bills higher or lower than the national median property tax rate of 0.99%, depending on their home's assessed value and the local tax rate. These taxes are crucial for funding public services, such as schools and infrastructure, directly impacting the community's quality of life.
Average Dallas Tax Bill
$1,832
Average Lincoln County Tax Bill
$2,128
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Dallas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28034 | $1,582 | $1,681 | $1,832 | $2,624 | $3,879 |
Source: Ownwell