Pittsboro, North Carolina Property Taxes
The median property tax rate in Pittsboro, NC is 1.00%, slightly higher than the national median of 0.99% and significantly above the North Carolina state median of 0.82%. With a median home value of $551,200 in Pittsboro, the typical annual property tax bill amounts to $5,509, which surpasses the national median of $2,690. Property taxes in Pittsboro are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Pittsboro'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 Pittsboro 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
Pittsboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$5,512
Ownwell’s Pittsboro Property Tax Bill Calculator assists any homeowner, real estate investor, or potential owner in estimating their annual property taxes in Pittsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pittsboro 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 Pittsboro, North Carolina
Property taxes in Pittsboro, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pittsboro is 0.82%, which is lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Pittsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pittsboro 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 Pittsboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27312 has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Pittsboro provides valuable insights into the varying tax landscape across Chatham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pittsboro Tax Rate
1.00%
Average Orange County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pittsboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27312 | 0.99% | 1.00% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Pittsboro, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pittsboro, NC. 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 Orange 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 Pittsboro, 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 Pittsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27312 has both the highest and lowest median tax bill, which is $5,509.
Property Tax Assessment Values Across Pittsboro, North Carolina
Source: Ownwell
$30,900
$291,050
$551,200
Average Pittsboro Assessed Value
$551,200
Average Orange County Assessed Value
$295,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pittsboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27312 | $507,300 | $517,500 | $551,200 | $580,500 | $682,860 |
Source: Ownwell
Property Tax Bills Across Pittsboro, North Carolina
In Pittsboro, property tax bills are calculated based on the assessed value of a home, which is determined by the Orange County tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $551,200, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Several factors influence the tax bill, including property size, location, and any improvements made. Homeowners in Pittsboro might see tax bills ranging from $5,181 at the 25th percentile to $6,791 at the 90th percentile. The highest and lowest median tax bills in the area are both $5,509, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Pittsboro's rates reflect the local economic conditions and funding needs for public services. Understanding these factors can help homeowners better anticipate and manage their annual property tax obligations.
Average Pittsboro Tax Bill
$5,509
Average Orange County Tax Bill
$3,822
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Pittsboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27312 | $5,082 | $5,181 | $5,509 | $5,794 | $6,791 |
Source: Ownwell