Grimesland, North Carolina Property Taxes
The median property tax rate in Grimesland, NC is 0.97%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $66,823, the typical annual property tax bill in Grimesland amounts to $660, significantly lower than the national median of $2,690. Property taxes in Grimesland are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Navigating Grimesland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to meaningful annual savings. Whether you're in the heart of Grimesland or another part of Beaufort County, understanding the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grimesland, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$648
$601
Ownwell’s Grimesland Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grimesland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grimesland to provide an estimate of 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 Grimesland, North Carolina
Property taxes in Grimesland, 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 Grimesland is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Grimesland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grimesland 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 Grimesland's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27837 has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these figures compare with Grimesland 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 Grimesland Tax Rate
0.97%
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 Grimesland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27837 | 0.72% | 0.85% | 0.97% | 1.06% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Grimesland, North Carolina
In Grimesland, 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 Grimesland, 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 Grimesland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Grimesland are both $660, found in the 27837 zip code.
Property Tax Assessment Values Across Grimesland, North Carolina
Source: Ownwell
$50,925
$132,433
$213,941
Average Grimesland Assessed Value
$66,823
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 Grimesland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27837 | $31,481 | $49,921 | $66,823 | $104,937 | $166,922 |
Source: Ownwell
Property Tax Bills Across Grimesland, North Carolina
In Grimesland, located in Beaufort County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For example, with a median home price of $66,823, homeowners in Grimesland can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $528, while at the 75th percentile, it rises to approximately $935. For those in the 90th percentile, the tax bill can reach up to $1,262. These figures highlight the range of property tax burdens homeowners may face, influenced by factors such as property value and local tax rates. Compared to the national median property tax rate of 0.99%, Grimesland's tax rates and resulting bills offer a localized perspective on how property taxes can impact homeowners in this specific region.
Average Grimesland Tax Bill
$660
Average Beaufort County Tax Bill
$970
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Grimesland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27837 | $397 | $528 | $660 | $935 | $1,262 |
Source: Ownwell