Gaston, North Carolina Property Taxes
The median property tax rate in Gaston, NC is 1.13%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Gaston, the typical annual property tax bill reaches $872, which is significantly lower than the national median of $2,690. Property taxes in Gaston 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 Gaston'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 Gaston 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
Gaston, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$720
Ownwell’s Gaston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gaston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gaston 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 Gaston, North Carolina
Property taxes in Gaston, 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 Gaston is 1.13%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Gaston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gaston 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 Gaston's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27832 has both the highest and lowest median property tax rate of 1.13%. Understanding how these cities compare with Gaston provides valuable insights into the varying tax landscape across Northampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gaston Tax Rate
1.13%
Average Northampton County Tax Rate
1.04%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gaston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27832 | 0.87% | 0.91% | 1.13% | 1.64% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Gaston, North Carolina
In Gaston, 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 Northampton 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 Gaston, 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 Gaston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Gaston is $872.00 in zip code 27832, while the lowest median tax bill is also $872.00 in the same zip code.
Average Gaston Assessed Value
$63,677
Average Northampton County Assessed Value
$67,893
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gaston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27832 | $8,029 | $27,408 | $63,677 | $140,567 | $418,075 |
Source: Ownwell
Property Tax Bills Across Gaston, North Carolina
In Gaston, located in Northampton County, NC, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. For instance, the median home price in Gaston is $63,677, which serves as a baseline for many tax assessments. Homeowners in Gaston can expect varying tax bills depending on their property's value. The 25th percentile tax bill is $458, while the 75th percentile reaches $1,603, and the 90th percentile goes up to $3,869. These figures show a significant range, reflecting the diversity in property values and corresponding tax obligations within the area. Compared to the national median property tax rate of 0.99%, homeowners in Gaston may experience different financial impacts based on their specific property assessments. This system ensures that property taxes are proportionate to the value of the property, thereby affecting homeowners' annual financial planning.
Average Gaston Tax Bill
$872
Average Northampton County Tax Bill
$808
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Gaston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27832 | $115 | $458 | $872 | $1,603 | $3,869 |
Source: Ownwell