Lincolnton, North Carolina Property Taxes
The median property tax rate in Lincolnton, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $226,600 in Lincolnton, the typical annual property tax bill is around $906, well below the national median of $2,690. Property taxes in Lincolnton are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lincolnton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lincolnton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lincolnton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$906
Ownwell’s Lincolnton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincolnton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincolnton 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 Lincolnton, North Carolina
Property taxes in Lincolnton, 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 Lincolnton is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Lincolnton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincolnton 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 Lincolnton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28092 zip code has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Lincolnton provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincolnton Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincolnton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Lincolnton, North Carolina
In Lincolnton, 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 Avery County Assessment Office 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 Lincolnton, 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. The median home price in Lincolnton is $226,600, with tax bills ranging from $466 at the 25th percentile to $1,611 at the 90th percentile. The highest and lowest median tax bills are both $906, found in the 28092 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lincolnton, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Lincolnton Assessed Value
$226,600
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincolnton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | $50,520 | $116,550 | $226,600 | $336,650 | $402,680 |
Source: Ownwell
Property Tax Bills Across Lincolnton, North Carolina
In Lincolnton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as a home's size, location, and market conditions can influence its assessed value. For example, with a median home price of $226,600 in Lincolnton, homeowners can expect varying tax bills. The 25th percentile tax bill is around $466, while the 75th percentile reaches up to $1,347, and the 90th percentile can be as high as $1,611. These figures show a range of possible tax obligations, reflecting differences in property values and specific assessments. Homeowners in Lincolnton should be aware that their property tax bills can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Lincolnton's tax rates and assessed values provide a diverse landscape of tax liabilities, affecting household budgets and financial planning.
Average Lincolnton Tax Bill
$906
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincolnton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | $202 | $466 | $906 | $1,347 | $1,611 |
Source: Ownwell