Tobaccoville, North Carolina Property Taxes
The median property tax rate in Tobaccoville, NC is 0.74%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $132,800 in Tobaccoville, the typical annual property tax bill amounts to $953, significantly below the national median of $2,690. Property taxes in Tobaccoville are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Tobaccoville's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Tobaccoville or another part of Stokes County, comprehending the local property tax system will be advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Tobaccoville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$983
Ownwell’s Tobaccoville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tobaccoville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tobaccoville 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 Tobaccoville, North Carolina
Property taxes in Tobaccoville, 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 Tobaccoville is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Tobaccoville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tobaccoville 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 Tobaccoville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27050 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these figures compare with Tobaccoville provides valuable insights into the varying tax landscape across Stokes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tobaccoville Tax Rate
0.74%
Average Stokes County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tobaccoville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27050 | 0.59% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Tobaccoville, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tobaccoville, North Carolina. The market value represents 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 Stokes County Assessor 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 Tobaccoville, 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. The median home price in Tobaccoville is $132,800, with the 25th percentile tax bill at $711 and the 75th percentile at $1,462. The highest median tax bill in the area is $953 in zip code 27050, which is also the lowest median tax bill. Understanding these valuation concepts helps property owners navigate their tax responsibilities, identify opportunities for protesting assessments, and apply for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Tobaccoville, North Carolina
Source: Ownwell
$83,700
$329,300
$574,900
Average Tobaccoville Assessed Value
$132,800
Average Stokes County Assessed Value
$130,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tobaccoville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27050 | $68,890 | $101,125 | $132,800 | $203,350 | $362,770 |
Source: Ownwell
Property Tax Bills Across Tobaccoville, North Carolina
In Tobaccoville, located in Stokes County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and reflects the market value of the home. Homeowners in Tobaccoville can expect their property tax bills to fall within a range, with the 25th percentile at $711 and the 75th percentile at $1462. The 90th percentile tax bill reaches up to $2483. These tax bills are influenced by several factors, including the property's location, size, and condition. Compared to the national median property tax rate of 0.99%, Tobaccoville's property taxes are relatively moderate. The highest and lowest median tax bills in the area are both $953, indicating a level of consistency in tax assessments within the 27050 zip code. For homeowners, understanding these factors can help in budgeting for annual expenses and in making informed decisions when buying or selling property in Tobaccoville.
Average Tobaccoville Tax Bill
$953
Average Stokes County Tax Bill
$951
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Tobaccoville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27050 | $441 | $711 | $953 | $1,462 | $2,483 |
Source: Ownwell