Coinjock, North Carolina Property Taxes
The median property tax rate in Coinjock, NC is 0.66%, which is considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Coinjock at $175,500, the typical annual property tax bill reaches $1,125, well below the national median of $2,690. Property taxes in Coinjock are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Coinjock'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 Coinjock or another part of Currituck County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coinjock, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,158
Ownwell’s Coinjock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coinjock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coinjock 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 Currituck County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Coinjock, North Carolina
Property taxes in Coinjock, North Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Coinjock is 0.66%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Coinjock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coinjock 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 Coinjock's effective property tax rate to other regions in North Carolina and the national median. For comparison, the zip code 27923 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Coinjock provides valuable insights into the varying tax landscape across Currituck County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coinjock Tax Rate
0.66%
Average Currituck County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coinjock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27923 | 0.56% | 0.56% | 0.66% | 0.74% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Coinjock, North Carolina
In Coinjock, 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 Currituck 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 Coinjock, 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 Coinjock is $175,500, with a 25th percentile tax bill of $724 and a 75th percentile tax bill of $1,823. The highest and lowest median tax bills are both $1,125 in the 27923 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Coinjock, North Carolina
Source: Ownwell
$97,200
$300,600
$504,000
Average Coinjock Assessed Value
$175,500
Average Currituck County Assessed Value
$330,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coinjock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27923 | $59,680 | $99,350 | $175,500 | $287,900 | $436,740 |
Source: Ownwell
Property Tax Bills Across Coinjock, North Carolina
In Coinjock, located in Currituck County, NC, property tax bills are determined based on the assessed value of a home. The median home price in this area is $175,500. Local tax authorities calculate the tax bill by applying the property tax rate to the assessed value of the property. Factors such as the property's location, size, and improvements can influence its assessed value. For homeowners in Coinjock, the 25th percentile tax bill is $724, while the 75th percentile tax bill reaches $1,823. Those in the 90th percentile face tax bills as high as $2,506. Comparatively, the highest and lowest median tax bills in the area are both $1,125, indicating a level of consistency in tax assessments within the region. These property tax bills directly impact homeowners by influencing their annual housing costs. Understanding how these taxes are calculated can help homeowners better anticipate their financial obligations and plan accordingly.
Average Coinjock Tax Bill
$1,125
Average Currituck County Tax Bill
$2,308
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Coinjock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27923 | $406 | $724 | $1,125 | $1,823 | $2,506 |
Source: Ownwell