Lincolnton, North Carolina Property Taxes
The median property tax rate in Lincolnton, NC is 0.70%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Lincolnton at $170,400, the typical annual property tax bill amounts to $1,235, which is below the national median of $2,690. Property taxes in Lincolnton are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Lincolnton'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 Lincolnton 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
Lincolnton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,193
-$12,501
Ownwell’s Lincolnton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincolnton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincolnton 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 Lincolnton, North Carolina
Property taxes in Lincolnton, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincolnton is 0.70%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Lincolnton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincolnton 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 Lincolnton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28092 zip code has both the highest and lowest median property tax rate of 0.70%. Understanding how these jurisdictions compare with Lincolnton provides valuable insights into the varying tax landscape across Catawba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincolnton Tax Rate
0.70%
Average Catawba County Tax Rate
0.80%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincolnton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | 0.46% | 0.58% | 0.70% | 0.78% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Lincolnton, North Carolina
In Lincolnton, 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 Catawba 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 Lincolnton, 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. The median home price in Lincolnton is $170,400, with tax bills ranging from $659 at the 25th percentile to $2,240 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 28092, with a median tax bill of $1,235. By understanding 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 Lincolnton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lincolnton, North Carolina
Source: Ownwell
$39,100
$178,200
$317,300
Average Lincolnton Assessed Value
$170,400
Average Catawba County Assessed Value
$180,000
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincolnton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | $26,560 | $91,000 | $170,400 | $233,700 | $335,700 |
Source: Ownwell
Property Tax Bills Across Lincolnton, North Carolina
Property tax bills in Lincolnton, located in Catawba County, NC, are calculated based on the assessed value of a property and the local tax rate. The median home price in Lincolnton is $170,400, and the property tax rate is applied to this assessed value to determine the annual tax bill. For instance, the 25th percentile tax bill is $659, while the 75th percentile reaches $1,723, and the 90th percentile can be as high as $2,240. These tax bills are influenced by various factors, including property size, location, and improvements made to the home. Compared to the national median property tax rate of 0.99%, Lincolnton's rates can be seen as relatively moderate, providing some relief to homeowners. However, the highest median tax bill in the area is $1,235, found in the 28092 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Lincolnton Tax Bill
$1,235
Average Catawba County Tax Bill
$1,310
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincolnton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | $92 | $659 | $1,235 | $1,723 | $2,240 |
Source: Ownwell