Elizabeth City, North Carolina Property Taxes
The median property tax rate in Elizabeth City, NC is 0.64%, which is notably lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With a median home value of $97,862 in Elizabeth City, the typical annual property tax bill is around $639, significantly below the national median of $2,690. Property taxes in Elizabeth City are calculated based on the assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Elizabeth City'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 Elizabeth City or another part of Camden County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elizabeth City, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$626
Ownwell’s Elizabeth City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elizabeth City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elizabeth City 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 Elizabeth City, North Carolina
Property taxes in Elizabeth City, 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 Elizabeth City is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Elizabeth City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elizabeth City 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 Elizabeth City's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27909 in Elizabeth City has a median property tax rate of 0.64%. Understanding how these rates compare with Elizabeth City provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elizabeth City Tax Rate
0.64%
Average Camden County Tax Rate
0.62%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elizabeth City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27909 | 0.62% | 0.62% | 0.64% | 0.65% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Elizabeth City, North Carolina
In Elizabeth City, 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 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 in Elizabeth City 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 Elizabeth City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $639.00, found in the 27909 zip code.
Property Tax Assessment Values Across Elizabeth City, North Carolina
Source: Ownwell
$97,862
$211,314
$324,766
Average Elizabeth City Assessed Value
$97,862
Average Camden County Assessed Value
$282,772
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elizabeth City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27909 | $54,387 | $56,143 | $97,862 | $156,239 | $187,981 |
Source: Ownwell
Property Tax Bills Across Elizabeth City, North Carolina
In Elizabeth City, Camden County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value, and local tax rates are applied to this assessed value to determine the tax bill. For instance, with a median home price of $97,862, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. The tax bill can range significantly, with the 25th percentile at $368 and the 75th percentile at $996. Those at the 90th percentile may see bills as high as $1,172. These figures indicate that property taxes in Elizabeth City can vary widely, impacting homeowners differently depending on their property's value and location within the city. Compared to the national median property tax rate of 0.99%, Elizabeth City's rates may offer a more affordable option for homeowners, but individual circumstances can lead to different outcomes.
Average Elizabeth City Tax Bill
$639
Average Camden County Tax Bill
$1,669
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Elizabeth City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27909 | $346 | $368 | $639 | $996 | $1,172 |
Source: Ownwell