Pantego, North Carolina Property Taxes
The median property tax rate in Pantego, NC is 1.27%, 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 Pantego at $76,300, the typical annual property tax bill reaches $874, which is lower than the national median of $2,690. Property taxes in Pantego 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 Pantego'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 Pantego or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pantego, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$969
Ownwell’s Pantego Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pantego with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pantego 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 Pantego, North Carolina
Property taxes in Pantego, 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 Pantego is 1.27%, significantly higher than the U.S. national median of 0.99%. Local government entities within Pantego set these rates annually, and they can vary across different neighborhoods. Each year, Pantego 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 Pantego's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27860 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Pantego provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pantego Tax Rate
1.27%
Average Washington County Tax Rate
1.05%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pantego, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27860 | 0.83% | 1.11% | 1.27% | 1.58% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Pantego, North Carolina
In Pantego, 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 Washington 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 Pantego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 27860, with a median tax bill of $874.
Average Pantego Assessed Value
$76,300
Average Washington County Assessed Value
$66,050
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pantego, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27860 | $26,965 | $45,125 | $76,300 | $114,725 | $148,945 |
Source: Ownwell
Property Tax Bills Across Pantego, North Carolina
In Pantego, Washington County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Pantego is $76,300. Homeowners' tax bills are influenced by the assessed value of their property, which is determined by the county assessor, and the local tax rate applied to that value. For instance, the 25th percentile tax bill is around $693, while the 75th percentile tax bill reaches $1,256. At the 90th percentile, homeowners might pay up to $1,482 annually. These tax bills can significantly impact homeowners, as higher property taxes can increase the overall cost of owning a home. The median tax bill in the area is $874, which is below the national median property tax rate of 0.99%. This relatively lower tax rate can be beneficial for homeowners, making Pantego an attractive location for those looking to manage their housing expenses effectively.
Average Pantego Tax Bill
$874
Average Washington County Tax Bill
$781
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Pantego, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27860 | $493 | $693 | $874 | $1,256 | $1,482 |
Source: Ownwell