Chowan County Property Taxes
The median property tax rate in Chowan County is 0.74%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $147,626 in Chowan County, the typical annual property tax bill amounts to $1,115, significantly less than the national median of $2,690. Property taxes in Chowan County are calculated based on the assessed value, which usually falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Chowan County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can result in substantial annual savings. Whether you reside in Edenton or another part of Chowan County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chowan County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,092
$1,014
Ownwell’s Chowan County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Chowan County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Chowan County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more localized informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Chowan County, North Carolina
Property taxes in Chowan County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Chowan County is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Chowan County set these rates annually, and they can vary significantly between different areas within the county. Each year, Chowan County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Chowan County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Hertford has one of the higher property tax rates in North Carolina at 0.74%, while the city of Belvidere boasts one of the lowest at 0.73%. Analyzing how Chowan County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Chowan County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chowan County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | 0.39% | 0.56% | 0.73% | 0.74% | 0.74% |
| Edenton | 0.55% | 0.73% | 0.74% | 1.09% | 1.10% |
| Hertford | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
| Hobbsville | 0.37% | 0.59% | 0.73% | 0.74% | 0.74% |
| Tyner | 0.37% | 0.73% | 0.73% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Chowan County, North Carolina
In Chowan County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Chowan Appraisal District. The assessed value, however, 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 Chowan County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Chowan County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Hertford has the highest median tax bill at $1,670, while Tyner has the lowest at $936.
Property Tax Assessment Values Across Chowan County, North Carolina
Source: Ownwell
$139,402
$182,627
$225,852
Average Chowan County Assessed Value
$147,626
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chowan County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | $90,470 | $110,470 | $161,587 | $250,607 | $309,126 |
| Edenton | $59,999 | $92,622 | $148,069 | $251,661 | $388,578 |
| Hertford | $225,852 | $225,852 | $225,852 | $225,852 | $225,852 |
| Hobbsville | $89,468 | $116,958 | $182,828 | $241,940 | $329,475 |
| Tyner | $60,144 | $95,876 | $139,402 | $222,663 | $320,858 |
Source: Ownwell
Property Tax Bills Across Chowan County, North Carolina
In Chowan County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Chowan County can expect a median property tax bill significantly influenced by the assessed value of their homes. For instance, the median home price in the county is $147,626, and property tax bills can range widely. At the 25th percentile, homeowners might pay around $687, while those at the 75th percentile could see bills as high as $1,943. The 90th percentile tax bill reaches up to $3,099. These tax rates can have a substantial impact on homeowners, affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Chowan County's property tax rates vary, with the highest median tax bill recorded at $1,670 in Hertford and the lowest at $936 in Tyner. Understanding these factors can help homeowners better prepare for their financial obligations.
Average Chowan County Tax Bill
$1,115
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Chowan County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | $589 | $710 | $1,087 | $1,571 | $1,956 |
| Edenton | $428 | $701 | $1,148 | $2,050 | $3,270 |
| Hertford | $1,670 | $1,670 | $1,670 | $1,670 | $1,670 |
| Hobbsville | $411 | $701 | $1,231 | $1,753 | $2,112 |
| Tyner | $346 | $600 | $936 | $1,532 | $2,158 |
Source: Ownwell