Gibsonville, North Carolina Property Taxes
The median property tax rate in Gibsonville, NC is 0.89%, which is slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $73,037 in Gibsonville, the typical annual property tax bill amounts to $687, which is significantly lower than the national median of $2,690. Property taxes in Gibsonville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Gibsonville'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 Gibsonville or another part of Caswell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gibsonville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$650
Ownwell’s Gibsonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gibsonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gibsonville 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 Gibsonville, North Carolina
Property taxes in Gibsonville, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gibsonville is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Gibsonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gibsonville 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 Gibsonville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27249 has both the highest and the lowest median property tax rate of 0.89%. Understanding how these areas compare with Gibsonville provides valuable insights into the varying tax landscape across Caswell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gibsonville Tax Rate
0.89%
Average Caswell County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | 0.68% | 0.81% | 0.89% | 0.96% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Gibsonville, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gibsonville, North Carolina. 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 Caswell 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 Gibsonville, 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. The median home price in Gibsonville is $73,037, with tax bills ranging from $480 at the 25th percentile to $1,445 at the 90th percentile. The highest and lowest median tax bills are both $687 in the zip code 27249. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gibsonville, North Carolina
Source: Ownwell
$73,037
$187,890
$302,742
Average Gibsonville Assessed Value
$73,037
Average Caswell County Assessed Value
$93,808
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | $35,551 | $51,246 | $73,037 | $103,228 | $165,386 |
Source: Ownwell
Property Tax Bills Across Gibsonville, North Carolina
In Gibsonville, located in Caswell County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $73,037. The tax rate is applied to this assessed value to determine the tax bill. For homeowners, this means that their property tax bill can vary significantly depending on the assessed value of their property and the specific tax rate set by local authorities. For instance, tax bills in Gibsonville can range widely. At the 25th percentile, homeowners might pay around $480, whereas those at the 75th percentile could see bills closer to $917. The highest tax bills, at the 90th percentile, can go up to $1,445. These figures show that while some homeowners may face relatively modest property tax bills, others could experience higher costs depending on their property's assessed value. Comparatively, the median property tax bill in Gibsonville is $687, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can make Gibsonville an attractive place for homeowners.
Average Gibsonville Tax Bill
$687
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | $346 | $480 | $687 | $917 | $1,445 |
Source: Ownwell