Simpson, North Carolina Property Taxes
The median property tax rate in Simpson, NC is 1.42%, 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 Simpson, the typical annual property tax bill reaches $845, which is still below the national median of $2,690. Property taxes in Simpson 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 Simpson'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 Simpson 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
Simpson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$848
Ownwell’s Simpson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Simpson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Simpson 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 Simpson, North Carolina
Property taxes in Simpson, 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 Simpson is 0.82%, which is lower than both the North Carolina state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Simpson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Simpson 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 Simpson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in Pitt County is 0.82%, while the lowest median tax rate is also 0.82%. Understanding how these cities compare with Simpson 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 Simpson Tax Rate
1.42%
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 Simpson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27879 | 1.40% | 1.41% | 1.42% | 1.42% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Simpson, North Carolina
In Simpson, 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. 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. In Simpson, the highest median tax bill is $845 in zip code 27879, which is also the lowest median tax bill. Being aware of these valuation processes can help identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Simpson Assessed Value
$59,744
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 Simpson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27879 | $56,602 | $57,780 | $59,744 | $61,707 | $62,885 |
Source: Ownwell
Property Tax Bills Across Simpson, North Carolina
In Simpson, Pitt County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county's tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $59,744 in Simpson, homeowners can expect their property tax bill to fall between the 25th percentile at $822 and the 75th percentile at $869, with the 90th percentile reaching up to $883. These figures indicate that Simpson's property tax rates are relatively moderate compared to the national median property tax rate of 0.99%. This calculation directly impacts homeowners by determining the amount they owe annually, which can influence their overall housing costs and affordability. The highest and lowest median tax bills in the area are both recorded at $845 in the zip code 27879, reflecting a consistent tax environment within the city.
Average Simpson Tax Bill
$845
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 Simpson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27879 | $808 | $822 | $845 | $869 | $883 |
Source: Ownwell