Parkton, North Carolina Property Taxes
The median property tax rate in Parkton, NC is 0.92%, 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 in Parkton of $73,300, the typical annual property tax bill is $696, which is significantly below the national median of $2,690. Property taxes in Parkton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Parkton'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 Parkton 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
Parkton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$674
Ownwell’s Parkton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parkton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parkton 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 Parkton, North Carolina
Property taxes in Parkton, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkton is 0.92%, which is below the U.S. national median of 0.99%. Local government entities within Parkton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkton 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. Understanding how these cities compare with Parkton provides valuable insights into the varying tax landscape across Robeson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Parkton Tax Rate
0.92%
Average Robeson County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28371 | 0.92% | 0.92% | 0.92% | 0.92% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Parkton, North Carolina
In Parkton, 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 Robeson 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. Being aware of these valuation processes in Parkton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28371 has both the highest and lowest median tax bill at $696.
Average Parkton Assessed Value
$73,300
Average Robeson County Assessed Value
$69,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Parkton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28371 | $37,700 | $50,350 | $73,300 | $112,350 | $163,540 |
Source: Ownwell
Property Tax Bills Across Parkton, North Carolina
In Parkton, located in Robeson County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by county tax assessors. The assessed value typically reflects a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Parkton, the median home price is $73,300. Tax bills can vary significantly, with the 25th percentile at $478 and the 75th percentile reaching $1,213, while the 90th percentile can be as high as $1,763. These variations in tax bills are influenced by factors such as property size, location, and any applicable exemptions or deductions. Homeowners with properties in the highest median tax bill zip code, 28371, see a median tax bill of $696. Understanding how these factors interact can help homeowners anticipate their property tax obligations and budget accordingly, ensuring they are prepared for their annual tax commitments.
Average Parkton Tax Bill
$696
Average Robeson County Tax Bill
$623
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28371 | $356 | $478 | $696 | $1,213 | $1,763 |
Source: Ownwell