Lenoir, North Carolina Property Taxes
The median property tax rate in Lenoir, NC is 0.74%, 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 $93,900 in Lenoir, the typical annual property tax bill amounts to $647, significantly less than the national median of $2,690. Property taxes in Lenoir are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Lenoir's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lenoir 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
Lenoir, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$695
Ownwell’s Lenoir Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenoir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenoir 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 Lenoir, North Carolina
Property taxes in Lenoir, 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 Lenoir is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Lenoir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenoir 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 Lenoir's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28645 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Lenoir provides valuable insights into the varying tax landscape across Caldwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenoir Tax Rate
0.74%
Average Caldwell County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | 0.64% | 0.65% | 0.74% | 0.78% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Lenoir, North Carolina
In Lenoir, 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 Caldwell 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 Lenoir, 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 is $93,900, with tax bills ranging from $336 at the 25th percentile to $1,625 at the 90th percentile. Notably, both the highest and lowest median tax bills in Lenoir are $647, found in the 28645 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.
Average Lenoir Assessed Value
$93,900
Average Caldwell County Assessed Value
$103,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | $19,400 | $52,250 | $93,900 | $152,100 | $239,000 |
Source: Ownwell
Property Tax Bills Across Lenoir, North Carolina
In Lenoir, Caldwell County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors considered in the assessment include the property's market value, location, and any improvements or modifications made to the property. For homeowners in Lenoir, the median home price is $93,900. Property tax bills can vary significantly, with the 25th percentile paying around $336, while those in the 75th percentile pay approximately $1,063. At the 90th percentile, property tax bills can reach up to $1,625. The highest and lowest median tax bills in the area are both $647, specifically in the 28645 zip code. Compared to the national median property tax rate of 0.99%, Lenoir's tax rates can be considered moderate, impacting homeowners' annual expenses and potentially influencing their decisions on property improvements and investments.
Average Lenoir Tax Bill
$647
Average Caldwell County Tax Bill
$744
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | $109 | $336 | $647 | $1,063 | $1,625 |
Source: Ownwell