New Bern, North Carolina Property Taxes
The median property tax rate in New Bern, NC is 0.73%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $213,300 in New Bern, the typical annual property tax bill is approximately $1,355, well below the national median of $2,690. Property taxes in New Bern are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. By understanding New Bern's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you reside in the heart of New Bern or another part of Craven County, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Bern, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,557
$1,445
Ownwell’s New Bern Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Bern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Bern 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 New Bern, North Carolina
Property taxes in New Bern, North Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in New Bern is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within New Bern set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Bern 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 New Bern's effective property tax rate to other areas within Craven County and the national median. For comparison, the 28562 zip code has the highest median property tax rate of 0.84%, while the 28560 zip code has the lowest median tax rate of 0.52%. Understanding how these areas compare with New Bern 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 New Bern Tax Rate
0.73%
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 New Bern, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28560 | 0.48% | 0.50% | 0.52% | 0.85% | 0.89% |
| 28562 | 0.48% | 0.51% | 0.84% | 0.85% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across New Bern, North Carolina
In New Bern, 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 New Bern, 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 New Bern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In New Bern, the highest median tax bill is $1,576 in the 28562 zip code, while the lowest median tax bill is $1,093 in the 28560 zip code.
Property Tax Assessment Values Across New Bern, North Carolina
Source: Ownwell
$106,165
$346,580
$586,995
Average New Bern Assessed Value
$213,300
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 New Bern, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28560 | $47,767 | $112,338 | $190,190 | $279,770 | $381,198 |
| 28562 | $103,490 | $156,870 | $230,800 | $320,250 | $445,889 |
Source: Ownwell
Property Tax Bills Across New Bern, North Carolina
In New Bern, located in Craven County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in New Bern can expect their property tax bills to vary significantly depending on their property's assessed value and location within the city. For instance, the median home price in New Bern is $213,300. Property tax bills in the city range widely, with the 25th percentile at $874 and the 75th percentile reaching $1,998. At the 90th percentile, homeowners can see tax bills as high as $2,915. The highest median tax bill in the area is $1,576 in the zip code 28562, while the lowest median tax bill is $1,093 in the zip code 28560. These property taxes fund essential public services such as schools, infrastructure, and emergency services, impacting the overall quality of life for residents. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average New Bern Tax Bill
$1,355
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 New Bern, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28560 | $339 | $717 | $1,093 | $1,595 | $2,334 |
| 28562 | $591 | $1,055 | $1,576 | $2,310 | $3,299 |
Source: Ownwell