Yanceyville, North Carolina Property Taxes
The median property tax rate in Yanceyville, NC is 0.90%, 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 $84,610 in Yanceyville, the typical annual property tax bill is $745, which is significantly lower than the national median of $2,690. Property taxes in Yanceyville are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Yanceyville'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 Yanceyville or elsewhere in Caswell County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yanceyville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$761
$707
Ownwell’s Yanceyville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Yanceyville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Yanceyville to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities and is essential for financial planning. For those interested in more detailed insights, you can explore trends at a neighborhood level by scrolling down. Your property’s assessed value, determined by Caswell County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Yanceyville, North Carolina
Property taxes in Yanceyville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yanceyville is 0.90%, slightly below both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Yanceyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yanceyville 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 Yanceyville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27379 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Yanceyville 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 Yanceyville Tax Rate
0.90%
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 Yanceyville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27379 | 0.58% | 0.81% | 0.90% | 1.06% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Yanceyville, North Carolina
In Yanceyville, 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 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 Yanceyville, 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 Yanceyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $745 in the 27379 zip code.
Property Tax Assessment Values Across Yanceyville, North Carolina
Source: Ownwell
$73,037
$187,890
$302,742
Average Yanceyville Assessed Value
$84,610
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 Yanceyville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27379 | $31,474 | $56,822 | $84,610 | $141,526 | $239,457 |
Source: Ownwell
Property Tax Bills Across Yanceyville, North Carolina
In Yanceyville, property tax bills are calculated based on the assessed value of a home and the local tax rate in Caswell County. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Homeowners in Yanceyville pay property taxes that are influenced by this assessed value and the county's tax rate. For example, with a median home price of $84,610, the tax bills can vary significantly. Homeowners at the 25th percentile can expect a tax bill around $482, while those at the 75th percentile might see a bill closer to $1,164. At the 90th percentile, the tax bill can reach up to $1,762. Comparatively, the national median property tax rate is 0.99%, highlighting the variability in local tax rates. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety, making them a crucial aspect of homeownership in Yanceyville.
Average Yanceyville Tax Bill
$745
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Yanceyville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27379 | $302 | $482 | $745 | $1,164 | $1,762 |
Source: Ownwell