Davis, North Carolina Property Taxes
The median property tax rate in Davis, NC, is 0.66%, lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Davis at $112,344, the typical annual property tax bill is $757, well below the national median of $2,690. Property taxes in Davis 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 Davis'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 Davis 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
Davis, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$741
$688
Ownwell’s DAVIS Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in DAVIS using just two key data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in DAVIS to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Davis, North Carolina
Property taxes in Davis, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davis is 0.66%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Davis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davis 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 Davis's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28524 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Davis provides valuable insights into the varying tax landscape across Carteret County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davis Tax Rate
0.66%
Average Carteret County Tax Rate
0.55%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davis, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28524 | 0.55% | 0.60% | 0.66% | 0.74% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Davis, North Carolina
In Davis, 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 Carteret 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 Davis, 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 Davis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28524 in Carteret County has the highest median tax bill at $757.
Average Davis Assessed Value
$112,344
Average Carteret County Assessed Value
$225,462
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davis, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28524 | $49,047 | $82,451 | $112,344 | $162,747 | $294,638 |
Source: Ownwell
Property Tax Bills Across Davis, North Carolina
In Davis, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local county assessor and represents the market value of the property. Once the assessed value is established, the tax rate set by local authorities is applied to calculate the annual tax bill. For homeowners in Davis, property taxes can vary significantly. For instance, the 25th percentile of tax bills is around $562, while the 75th percentile reaches $1,078. At the higher end, the 90th percentile tax bill can climb to $1,917. These variations reflect differences in property values and neighborhood tax rates. Compared to the national median property tax rate of 0.99%, Davis offers a range of tax bills that can be more manageable for some homeowners, particularly those with properties at the lower end of the assessed value spectrum. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Davis Tax Bill
$757
Average Carteret County Tax Bill
$1,125
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Davis, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28524 | $409 | $562 | $757 | $1,078 | $1,917 |
Source: Ownwell