Grimesland, North Carolina Property Taxes
The median property tax rate in Grimesland, NC is 0.91%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $156,460 in Grimesland, the typical annual property tax bill amounts to $1,415, which is below the national median of $2,690. Property taxes in Grimesland are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grimesland'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 Grimesland 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
Grimesland, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,424
Ownwell’s Grimesland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grimesland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grimesland 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 Grimesland, North Carolina
Property taxes in Grimesland, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Grimesland is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Grimesland set these rates annually, and they can vary across different neighborhoods. Each year, Grimesland 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 Grimesland's effective property tax rate to other areas in Pitt County and the national median. For comparison, the 27837 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Grimesland 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 Grimesland Tax Rate
0.91%
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 Grimesland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27837 | 0.83% | 0.87% | 0.91% | 0.99% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Grimesland, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grimesland, 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 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 Grimesland, 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 Grimesland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,415, specifically in zip code 27837.
Property Tax Assessment Values Across Grimesland, North Carolina
Source: Ownwell
$34,934
$102,645
$170,355
Average Grimesland Assessed Value
$156,460
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 Grimesland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27837 | $41,546 | $81,462 | $156,460 | $243,263 | $345,134 |
Source: Ownwell
Property Tax Bills Across Grimesland, North Carolina
In Grimesland, Pitt County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $156,460. Tax authorities determine the tax bill by applying the local tax rate to the assessed value of the property. Factors such as property size, location, and market conditions influence the assessed value. For homeowners in Grimesland, property tax bills can vary significantly. The 25th percentile tax bill is around $806, while the 75th percentile is approximately $2,158. At the higher end, the 90th percentile tax bill reaches up to $3,271. Compared to the national median property tax rate of 0.99%, Grimesland's tax rates reflect the local economic conditions and funding requirements for public services. These property taxes impact homeowners by contributing to the funding of essential community services such as schools, emergency services, and infrastructure. Understanding how these taxes are calculated helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Grimesland Tax Bill
$1,415
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 Grimesland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27837 | $485 | $806 | $1,415 | $2,158 | $3,271 |
Source: Ownwell