Polkton, North Carolina Property Taxes
The median property tax rate in Polkton, NC is 0.87%, 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 of $92,800 in Polkton, the typical annual property tax bill is $729, which is below the national median of $2,690. Property taxes in Polkton are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Polkton'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 Polkton 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
Polkton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$807
$749
Ownwell’s Polkton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Polkton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Polkton 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 Polkton, North Carolina
Property taxes in Polkton, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Polkton is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Polkton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Polkton 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 Polkton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28135 has both the highest and lowest median property tax rate of 0.87%. Understanding how these areas compare with Polkton provides valuable insights into the varying tax landscape across Anson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Polkton Tax Rate
0.87%
Average Anson County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Polkton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28135 | 0.33% | 0.83% | 0.87% | 1.08% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Polkton, North Carolina
In Polkton, 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 Anson 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 Polkton, 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 Polkton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Polkton is $92,800, with tax bills ranging from $324 at the 25th percentile to $1,873 at the 90th percentile. The highest and lowest median tax bills both stand at $729 in the zip code 28135.
Average Polkton Assessed Value
$92,800
Average Anson County Assessed Value
$69,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Polkton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28135 | $15,240 | $44,450 | $92,800 | $160,250 | $255,200 |
Source: Ownwell
Property Tax Bills Across Polkton, North Carolina
In Polkton, located in Anson County, NC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $92,800, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. In Polkton, the tax bill at the 25th percentile is around $324, while at the 75th percentile, it reaches approximately $1,200. For those at the 90th percentile, the tax bill can be as high as $1,873. These property taxes directly impact homeowners by contributing to local services and infrastructure, which in turn can affect property values and community well-being.
Average Polkton Tax Bill
$729
Average Anson County Tax Bill
$626
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Polkton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28135 | $140 | $324 | $729 | $1,200 | $1,873 |
Source: Ownwell