Farmville, North Carolina Property Taxes
The median property tax rate in Farmville, NC is 1.28%, 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 Farmville at $98,010, the typical annual property tax bill reaches $1,090, still below the national median of $2,690. Property taxes in Farmville 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 Farmville'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 Farmville or another part of Pitt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Farmville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,255
Ownwell’s Farmville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmville 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 Farmville, North Carolina
Property taxes in Farmville, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Farmville is 1.28%, higher than the U.S. national median of 0.99%. Local government entities within Farmville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmville 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 Farmville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27828 has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Farmville provides valuable insights into the varying tax landscape across Pitt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farmville Tax Rate
1.28%
Average Pitt County Tax Rate
1.17%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farmville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27828 | 0.83% | 0.92% | 1.28% | 1.38% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Farmville, North Carolina
In Farmville, 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 Pitt 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 Farmville, 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. Farmville's median home price is $98,010, with property tax bills ranging from $666 at the 25th percentile to $2,593 at the 90th percentile. The zip code 27828 has the highest and lowest median tax bill, both at $1,090. Being aware of these valuation processes in Farmville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Farmville, North Carolina
Source: Ownwell
$34,934
$102,645
$170,355
Average Farmville Assessed Value
$98,010
Average Pitt County Assessed Value
$124,775
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farmville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27828 | $27,359 | $57,642 | $98,010 | $159,100 | $236,151 |
Source: Ownwell
Property Tax Bills Across Farmville, North Carolina
In Farmville, located in Pitt 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 and reflects the market value of the property. Homeowners in Farmville can expect their property tax bills to vary significantly depending on the value of their homes. For instance, the 25th percentile tax bill is $666, while the 75th percentile tax bill is $1763, and the 90th percentile tax bill reaches $2593. The median home price in Farmville is $98,010, which influences the overall tax bill. With the national median property tax rate at 0.99%, Farmville's property tax rates can be considered in comparison. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners must stay informed about their property's assessed value and any changes in the local tax rate to anticipate their annual tax obligations accurately.
Average Farmville Tax Bill
$1,090
Average Pitt County Tax Bill
$1,320
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Farmville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27828 | $395 | $666 | $1,090 | $1,763 | $2,593 |
Source: Ownwell