Lake Waccamaw, North Carolina Property Taxes
The median property tax rate in Lake Waccamaw, NC is 0.81%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $41,082 in Lake Waccamaw, the typical annual property tax bill is $208, significantly below the national median of $2,690. Property taxes in Lake Waccamaw are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lake Waccamaw'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 Lake Waccamaw or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Waccamaw, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$333
$309
Ownwell’s Lake Waccamaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Waccamaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Waccamaw 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 Lake Waccamaw, North Carolina
Property taxes in Lake Waccamaw, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Waccamaw is 0.81%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Lake Waccamaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Waccamaw 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 Lake Waccamaw's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28450 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Lake Waccamaw provides valuable insights into the varying tax landscape across Bladen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Waccamaw Tax Rate
0.81%
Average Bladen County Tax Rate
0.84%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Waccamaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28450 | 0.57% | 0.71% | 0.81% | 0.81% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Lake Waccamaw, North Carolina
In Lake Waccamaw, 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 Bladen 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 Lake Waccamaw, 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. The median home price here is $41,082, with tax bills ranging from $123 at the 25th percentile to $782 at the 90th percentile. 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 Lake Waccamaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lake Waccamaw, North Carolina
Source: Ownwell
$41,082
$97,728
$154,373
Average Lake Waccamaw Assessed Value
$41,082
Average Bladen County Assessed Value
$73,187
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Waccamaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28450 | $13,610 | $16,959 | $41,082 | $82,876 | $95,513 |
Source: Ownwell
Property Tax Bills Across Lake Waccamaw, North Carolina
In Lake Waccamaw, Bladen County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $41,082. To calculate the tax bill, the assessed value is multiplied by the local tax rate. Factors such as location, property size, and improvements can influence the assessed value. For homeowners in Lake Waccamaw, the tax bill can vary significantly. The 25th percentile tax bill is $123, while the 75th percentile tax bill is $671, and the 90th percentile tax bill reaches up to $782. These figures highlight the range of property tax obligations homeowners might face. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Lake Waccamaw should be aware of these variations and consider how property taxes impact their overall housing costs. Understanding these factors can help homeowners better manage their finances and plan for future expenses.
Average Lake Waccamaw Tax Bill
$208
Average Bladen County Tax Bill
$591
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Waccamaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28450 | $101 | $123 | $208 | $671 | $782 |
Source: Ownwell