Knightdale, North Carolina Property Taxes
The median property tax rate in Knightdale, NC is 1.11%, which is notably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Knightdale at $224,261, the typical annual property tax bill reaches $2,149, slightly below the national median of $2,690. Property taxes in Knightdale are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Knightdale'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 Knightdale 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
Knightdale, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,489
Ownwell’s Knightdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knightdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knightdale 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 Knightdale, North Carolina
Property taxes in Knightdale, 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 Knightdale is 1.11%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Knightdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knightdale 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 Knightdale's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27545 zip code has the highest median property tax rate of 1.11%, while the 27545 zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Knightdale provides valuable insights into the varying tax landscape across Wake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knightdale Tax Rate
1.11%
Average Wake County Tax Rate
1.10%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knightdale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27545 | 0.79% | 0.79% | 1.11% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Knightdale, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Knightdale, North Carolina. 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 Wake 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 Knightdale, 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. For example, the median home price in Knightdale is $224,261, with property tax bills ranging from $1,452 at the 25th percentile to $3,674 at the 90th percentile. Interestingly, the highest and lowest median tax bills in Knightdale are both $2,149, found in the 27545 zip code. 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 Knightdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Knightdale, North Carolina
Source: Ownwell
$174,058
$394,571
$615,084
Average Knightdale Assessed Value
$224,261
Average Wake County Assessed Value
$302,078
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knightdale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27545 | $145,957 | $171,098 | $224,261 | $291,255 | $357,480 |
Source: Ownwell
Property Tax Bills Across Knightdale, North Carolina
Property tax bills in Knightdale, Wake County, NC, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For instance, the median home price in Knightdale is $224,261. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Knightdale, the 25th percentile tax bill is $1,452, while the 75th percentile tax bill reaches $2,973. At the 90th percentile, homeowners may pay around $3,674. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Homeowners in Knightdale can expect their property tax bills to vary but generally align with the national median property tax rate of 0.99%. This ensures that essential community services continue to receive adequate funding.
Average Knightdale Tax Bill
$2,149
Average Wake County Tax Bill
$3,098
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Knightdale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27545 | $1,179 | $1,452 | $2,149 | $2,973 | $3,674 |
Source: Ownwell