Jarvisburg, North Carolina Property Taxes
The median property tax rate in Jarvisburg, NC is 0.68%, 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 Jarvisburg, the typical annual property tax bill is $1,050, well below the national median of $2,690. Property taxes in Jarvisburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jarvisburg'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 Jarvisburg 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
Jarvisburg, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,072
$995
Ownwell’s Jarvisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jarvisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jarvisburg 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 Jarvisburg, North Carolina
Property taxes in Jarvisburg, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jarvisburg is 0.68%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Jarvisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jarvisburg 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 Jarvisburg's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27947 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Jarvisburg 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 Jarvisburg Tax Rate
0.68%
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 Jarvisburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27947 | 0.56% | 0.59% | 0.68% | 0.76% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Jarvisburg, North Carolina
In Jarvisburg, 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 Jarvisburg, 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 Jarvisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both in the zip code 27947, each at $1,050.
Property Tax Assessment Values Across Jarvisburg, North Carolina
Source: Ownwell
$97,200
$300,600
$504,000
Average Jarvisburg Assessed Value
$157,650
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 Jarvisburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27947 | $49,020 | $96,900 | $157,650 | $238,750 | $384,860 |
Source: Ownwell
Property Tax Bills Across Jarvisburg, North Carolina
Property tax bills in Jarvisburg, located in Currituck County, NC, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value of the home, which in Jarvisburg has a median home price of $157,650. Homeowners in this area can expect tax bills that vary significantly; for instance, the 25th percentile tax bill is around $702, while the 75th percentile tax bill can reach up to $1,532. At the 90th percentile, tax bills soar to $2,203. These variations are influenced by factors such as property size, improvements, and location within the county. Compared to the national median property tax rate of 0.99%, the tax bills in Jarvisburg reflect the local economic conditions and property values. Homeowners should be aware of these factors as they can significantly impact their annual expenses and overall financial planning.
Average Jarvisburg Tax Bill
$1,050
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 Jarvisburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27947 | $366 | $702 | $1,050 | $1,532 | $2,203 |
Source: Ownwell