Vale, North Carolina Property Taxes
The median property tax rate in Vale, NC is 0.65%, 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 Vale, the typical annual property tax bill reaches $1,398, well below the national median of $2,690. Property taxes in Vale 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 Vale'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 Vale or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vale, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,300
Ownwell’s Vale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vale 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 Vale, North Carolina
Property taxes in Vale, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vale is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Vale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vale 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 Vale's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28168 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Vale 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 Vale Tax Rate
0.65%
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 Vale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28168 | 0.36% | 0.62% | 0.65% | 0.68% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Vale, North Carolina
In Vale, 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 Vale, 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. For instance, the median home price in Vale is $199,970, with tax bills ranging from $667 at the 25th percentile to $2,689 at the 90th percentile. The zip code 28168 has the highest and lowest median tax bill, both at $1,398. Being aware of these valuation processes in Vale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Vale Assessed Value
$199,970
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 Vale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28168 | $16,354 | $61,628 | $199,970 | $306,032 | $442,036 |
Source: Ownwell
Property Tax Bills Across Vale, North Carolina
Property tax bills in Vale, located in Lincoln County, NC, are determined by the assessed value of a property and the local tax rate. The assessed value is established by the county assessor, who evaluates the property's market value. Homeowners in Vale face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is $667, while the 75th percentile tax bill reaches $1993. For those at the 90th percentile, the tax bill can be as high as $2689. These tax bills impact homeowners by influencing their overall housing costs. The median home price in Vale is $199,970, and with the national median property tax rate at 0.99%, homeowners in this region may find their tax bills to be relatively moderate. However, individual bills can vary widely based on specific property assessments and local tax policies. This variability can affect budgeting and financial planning for homeowners, making it essential to understand how their property tax bill is calculated.
Average Vale Tax Bill
$1,398
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 Vale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28168 | $263 | $667 | $1,398 | $1,993 | $2,689 |
Source: Ownwell