Fountain, North Carolina Property Taxes
The median property tax rate in Fountain, NC is 0.80%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Fountain, the typical annual property tax bill reaches $575, significantly below the national median of $2,690. Property taxes in Fountain 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 Fountain'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 Fountain 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
Fountain, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$651
Ownwell’s Fountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fountain 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 Fountain, North Carolina
Property taxes in Fountain, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Fountain is 0.80%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Fountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fountain 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 Fountain's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27829 in Wilson County has a median property tax rate of 0.80%. Understanding how these cities compare with Fountain provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fountain Tax Rate
0.80%
Average Wilson County Tax Rate
1.30%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27829 | 0.38% | 0.49% | 0.80% | 0.90% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Fountain, North Carolina
In Fountain, 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 Wilson 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 Fountain, 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 Fountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fountain is $81,432, with the 25th percentile tax bill at $406 and the 75th percentile at $880. The highest and lowest median tax bills are both $575 in zip code 27829.
Property Tax Assessment Values Across Fountain, North Carolina
Source: Ownwell
$66,768
$107,800
$148,831
Average Fountain Assessed Value
$81,432
Average Wilson County Assessed Value
$97,889
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27829 | $31,241 | $57,785 | $81,432 | $126,213 | $177,819 |
Source: Ownwell
Property Tax Bills Across Fountain, North Carolina
In Fountain, located in Wilson 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 Fountain is $81,432, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. The tax bill for homeowners in Fountain varies, with the 25th percentile paying around $406 annually, while those in the 75th percentile pay approximately $880. At the 90th percentile, the tax bill can reach up to $1,176. Comparatively, the national median property tax rate is 0.99%, making Fountain's rates relatively moderate. These property taxes fund essential local services, including schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances effectively.
Average Fountain Tax Bill
$575
Average Wilson County Tax Bill
$1,033
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27829 | $181 | $406 | $575 | $880 | $1,176 |
Source: Ownwell