New Bern, North Carolina Property Taxes
The median property tax rate in New Bern, NC is 0.71%, 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 New Bern at $131,204, the typical annual property tax bill is $895, which is well below the national median of $2,690. Property taxes in New Bern 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 New Bern'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 New Bern or another part of Pamlico County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Bern, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$932
Ownwell’s New Bern Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in New Bern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Bern 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 New Bern, North Carolina
Property taxes in New Bern, 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 New Bern is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within New Bern set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Bern 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 New Bern's effective property tax rate to other areas in Pamlico County and the national median. For comparison, the 28560 zip code has the highest median property tax rate of 0.71%, while the 28562 zip code has the lowest median tax rate of 0.70%. Understanding how these areas compare with New Bern provides valuable insights into the varying tax landscape across Pamlico County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Bern Tax Rate
0.71%
Average Pamlico County Tax Rate
0.69%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Bern, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28560 | 0.68% | 0.70% | 0.71% | 0.71% | 0.71% |
| 28562 | 0.68% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across New Bern, North Carolina
In New Bern, 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 Pamlico 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 New Bern, 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 New Bern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in New Bern is found in zip code 28562 at $978, while the lowest is in zip code 28560 at $892.
Average New Bern Assessed Value
$131,204
Average Pamlico County Assessed Value
$145,305
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Bern, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28560 | $39,225 | $85,873 | $130,093 | $187,942 | $258,673 |
| 28562 | $79,690 | $120,114 | $153,479 | $174,034 | $236,366 |
Source: Ownwell
Property Tax Bills Across New Bern, North Carolina
In New Bern, Pamlico County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in New Bern can expect their property tax bills to vary, with the 25th percentile tax bill around $556 and the 75th percentile reaching up to $1,274. The 90th percentile tax bill can go as high as $1,800. These figures indicate a range of property tax burdens, influenced by the assessed value of individual homes. For instance, homes in the 28562 zip code have the highest median tax bill at $978, while those in the 28560 zip code have a slightly lower median tax bill of $892. The median home price in New Bern stands at $131,204, which helps put these tax figures into perspective. The property tax rate in New Bern is relatively moderate compared to the national median property tax rate of 0.99%, making it a significant consideration for homeowners budgeting for annual expenses.
Average New Bern Tax Bill
$895
Average Pamlico County Tax Bill
$1,045
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across New Bern, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28560 | $237 | $555 | $892 | $1,278 | $1,800 |
| 28562 | $559 | $842 | $978 | $1,167 | $1,453 |
Source: Ownwell