Ernul, North Carolina Property Taxes
The median property tax rate in Ernul, NC is 0.52%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Ernul at $142,265, the typical annual property tax bill reaches $754, well below the national median of $2,690. Property taxes in Ernul 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 Ernul'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 Ernul or another part of Craven County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ernul, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$740
Ownwell’s Ernul Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ernul with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ernul 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 Ernul, North Carolina
Property taxes in Ernul, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ernul is 0.52%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Ernul set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ernul 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 Ernul's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28527 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Ernul provides valuable insights into the varying tax landscape across Craven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ernul Tax Rate
0.52%
Average Craven County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ernul, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28527 | 0.47% | 0.49% | 0.52% | 0.54% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Ernul, North Carolina
In Ernul, 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 Craven 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 Ernul, 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 Ernul helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 28527, with a tax bill of $754, while the lowest median tax bill is also found in 28527, at $754.
Average Ernul Assessed Value
$142,265
Average Craven County Assessed Value
$192,005
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ernul, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28527 | $22,072 | $96,515 | $142,265 | $198,082 | $279,627 |
Source: Ownwell
Property Tax Bills Across Ernul, North Carolina
In Ernul, Craven County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. This value is then multiplied by the local tax rate, which is set annually by the county. For instance, if a home in Ernul has a median home price of $142,265, the tax bill can vary significantly based on the assessed value and the specific tax rate applied. Homeowners in Ernul can expect their tax bills to fall within a range, with the 25th percentile at $477 and the 75th percentile at $1004. For those at the higher end, the 90th percentile tax bill reaches $1422. This variability in tax bills can significantly impact homeowners, affecting their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Ernul's tax rates reflect the local economic conditions and funding needs for public services.
Average Ernul Tax Bill
$754
Average Craven County Tax Bill
$1,328
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ernul, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28527 | $127 | $477 | $754 | $1,004 | $1,422 |
Source: Ownwell