Winston Salem, North Carolina Property Taxes
The median property tax rate in Winston-Salem, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Winston-Salem, the typical annual property tax bill reaches $1,548, well below the national median of $2,690. Property taxes in Winston-Salem are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winston-Salem'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 Winston-Salem 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
Winston Salem, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,763
Ownwell’s Winston Salem Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Winston Salem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winston Salem to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in observing trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Winston Salem, North Carolina
Property taxes in Winston Salem, North Carolina, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Winston Salem 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 Winston Salem set these rates annually, and they can vary across different neighborhoods. Each year, Winston Salem 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 Winston Salem's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27107 zip code has the highest median property tax rate of 0.40%, while the 27104 zip code has the lowest median tax rate of 0.40%. Understanding how these areas compare with Winston Salem 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 regions.
Average Winston Salem 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 Winston Salem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27104 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27105 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27106 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27107 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27127 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Winston Salem, North Carolina
In Winston-Salem, 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 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 Winston-Salem, 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 instance, the median home price here is $440,850, with tax bills ranging widely; the 25th percentile tax bill is $631, while the 75th percentile tax bill is $2,959. The highest median tax bill in the area is $3,632 in the 27104 zip code, whereas the lowest is $267 in the 27106 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Winston Salem, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Winston Salem Assessed Value
$440,850
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 Winston Salem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27104 | $798,230 | $839,375 | $907,950 | $976,525 | $1,017,670 |
| 27105 | $334,860 | $440,850 | $617,500 | $673,400 | $706,940 |
| 27106 | $19,020 | $34,050 | $66,700 | $455,675 | $1,112,090 |
| 27107 | $180,610 | $181,375 | $182,650 | $183,925 | $184,690 |
| 27127 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Winston Salem, North Carolina
In Winston Salem, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $440,850, homeowners can expect tax bills to vary significantly. The 25th percentile tax bill is around $631, while the 75th percentile reaches approximately $2,959, and the 90th percentile can be as high as $4,071. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in the 27104 zip code experience the highest median tax bill at $3,632, whereas those in the 27106 zip code see the lowest median tax bill at $267. These variations highlight the importance of understanding local tax rates and assessed values, as they directly impact a homeowner's annual financial obligations.
Average Winston Salem Tax Bill
$1,548
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Winston Salem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27104 | $3,193 | $3,358 | $3,632 | $3,906 | $4,071 |
| 27105 | $1,339 | $1,763 | $2,470 | $2,694 | $2,828 |
| 27106 | $76 | $136 | $267 | $1,823 | $4,448 |
| 27107 | $722 | $726 | $731 | $736 | $739 |
| 27127 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell