Chocowinity, North Carolina Property Taxes
The median property tax rate in Chocowinity, NC is 0.84%, slightly higher than the state median of 0.82% but lower than the national median of 0.99%. With a median home value of $116,332, the typical annual property tax bill is around $1,067, which is significantly below the national median of $2,690. Property taxes in Chocowinity 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 Chocowinity'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 Chocowinity or another part of Beaufort County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chocowinity, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$977
$907
Ownwell’s Chocowinity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chocowinity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chocowinity 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 Chocowinity, North Carolina
Property taxes in Chocowinity, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chocowinity is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Chocowinity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chocowinity 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 Chocowinity's effective property tax rate to other areas in Beaufort County and the national median. For comparison, the zip code 27817 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Chocowinity provides valuable insights into the varying tax landscape across Beaufort County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chocowinity Tax Rate
0.84%
Average Beaufort County Tax Rate
0.92%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chocowinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27817 | 0.72% | 0.77% | 0.84% | 1.07% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Chocowinity, North Carolina
In Chocowinity, 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 Beaufort 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 Chocowinity, 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 Chocowinity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chocowinity is $116,332, with the 25th percentile tax bill at $600 and the 75th percentile at $2,274. The highest and lowest median tax bills are both $1,067 in the zip code 27817.
Property Tax Assessment Values Across Chocowinity, North Carolina
Source: Ownwell
$50,925
$132,433
$213,941
Average Chocowinity Assessed Value
$116,332
Average Beaufort County Assessed Value
$101,488
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chocowinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27817 | $33,348 | $53,972 | $116,332 | $283,990 | $376,619 |
Source: Ownwell
Property Tax Bills Across Chocowinity, North Carolina
In Chocowinity, located in Beaufort County, NC, property tax bills are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, the median home price in Chocowinity stands at $116,332. Factors such as property size, location, and improvements are considered in the assessment process, which directly impacts the tax bill. Homeowners in Chocowinity can expect property tax bills to vary significantly. For the 25th percentile, the tax bill is around $600, while it rises to $2,274 at the 75th percentile and reaches $2,938 at the 90th percentile. Comparing these figures to the national median property tax rate of 0.99%, Chocowinity's tax rates offer a diverse range, reflecting the unique characteristics of each property. This variability in tax bills can significantly affect homeowners' annual financial planning, making it essential to understand how these assessments and rates are determined.
Average Chocowinity Tax Bill
$1,067
Average Beaufort County Tax Bill
$970
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Chocowinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27817 | $395 | $600 | $1,067 | $2,274 | $2,938 |
Source: Ownwell