Patterson, North Carolina Property Taxes
The median property tax rate in Patterson, NC is 0.77%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Patterson at $981,550, the typical annual property tax bill reaches $7,478, significantly exceeding the national median of $2,690. Property taxes in Patterson are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Patterson'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 Patterson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Patterson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$7,558
Ownwell’s Patterson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Patterson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Patterson 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 Patterson, North Carolina
Property taxes in Patterson, 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 Patterson is 0.77%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Patterson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Patterson 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 Patterson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28661 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Patterson 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 Patterson Tax Rate
0.77%
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 Patterson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28661 | 0.76% | 0.77% | 0.77% | 0.77% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Patterson, North Carolina
In Patterson, 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 Patterson, 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 $981,550, with tax bills ranging from $4,197 at the 25th percentile to $12,726 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 Patterson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Patterson, North Carolina
Source: Ownwell
$11,100
$496,325
$981,550
Average Patterson Assessed Value
$981,550
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 Patterson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28661 | $290,470 | $549,625 | $981,550 | $1,413,475 | $1,672,630 |
Source: Ownwell
Property Tax Bills Across Patterson, North Carolina
Property tax bills in Patterson, Caldwell County, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county tax assessor and reflects the market value of the property. In Patterson, the tax rate is applied to this assessed value to calculate the annual property tax bill. Homeowners in Patterson can expect varying tax bills, with the 25th percentile paying around $4,197 and the 75th percentile facing bills up to $10,758. The highest median tax bill in the area is $7,478, which is significantly above the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners should be aware of these factors as they influence both the affordability and desirability of owning property in Patterson.
Average Patterson Tax Bill
$7,478
Average Caldwell County Tax Bill
$744
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Patterson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28661 | $2,229 | $4,197 | $7,478 | $10,758 | $12,726 |
Source: Ownwell