Navassa, North Carolina Property Taxes
The median property tax rate in Navassa, NC is 0.59%, 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 Navassa at $140,660, the typical annual property tax bill is $829, which is well below the national median of $2,690. Property taxes in Navassa are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Navassa'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 Navassa or another part of Brunswick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Navassa, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$830
$770
Ownwell’s Navassa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Navassa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Navassa 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 Navassa, North Carolina
Property taxes in Navassa, 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 Navassa is 0.59%, significantly lower than the U.S. national median of 0.99%. Local government entities within Navassa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Navassa 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 Navassa's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28451 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Navassa provides valuable insights into the varying tax landscape across Brunswick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Navassa Tax Rate
0.59%
Average Brunswick County Tax Rate
0.43%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Navassa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28451 | 0.43% | 0.46% | 0.59% | 0.70% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Navassa, North Carolina
In Navassa, 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 Brunswick 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. 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 Navassa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $829 in the 28451 zip code, which is also the lowest.
Average Navassa Assessed Value
$140,660
Average Brunswick County Assessed Value
$338,175
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Navassa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28451 | $35,398 | $78,078 | $140,660 | $233,665 | $279,408 |
Source: Ownwell
Property Tax Bills Across Navassa, North Carolina
In Navassa, located in Brunswick County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $140,660, homeowners can expect a tax bill that falls within a range, with the 25th percentile at $510 and the 75th percentile at $1,115. Several factors influence the tax bill, including property improvements, neighborhood developments, and changes in local tax rates. For homeowners, this means that property taxes can vary significantly based on these elements. Compared to the national median property tax rate of 0.99%, Navassa's property tax bills can be relatively moderate, but they still represent a significant annual expense that homeowners must plan for.
Average Navassa Tax Bill
$829
Average Brunswick County Tax Bill
$1,377
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Navassa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28451 | $242 | $510 | $829 | $1,115 | $1,345 |
Source: Ownwell