Thomasville, North Carolina Property Taxes
The median property tax rate in Thomasville, NC is 1.16%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Thomasville, the typical annual property tax bill reaches $1,184, which is below the national median of $2,690. Property taxes in Thomasville 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 Thomasville'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 Thomasville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thomasville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,414
$1,312
Ownwell’s Thomasville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thomasville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thomasville 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 Davidson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thomasville, North Carolina
Property taxes in Thomasville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thomasville is 1.16%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Thomasville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thomasville 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 Thomasville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27360 zip code has the highest median property tax rate of 1.16%, while the 27360 zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Thomasville provides valuable insights into the varying tax landscape across Davidson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thomasville Tax Rate
1.16%
Average Davidson County Tax Rate
0.65%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thomasville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27360 | 0.63% | 0.64% | 1.16% | 1.35% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Thomasville, North Carolina
In Thomasville, 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 Davidson 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 Thomasville, 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 Thomasville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Thomasville is 27360, with a median tax bill of $1,184.
Property Tax Assessment Values Across Thomasville, North Carolina
Source: Ownwell
$75,130
$182,330
$289,530
Average Thomasville Assessed Value
$121,885
Average Davidson County Assessed Value
$147,820
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thomasville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27360 | $57,560 | $85,272 | $121,885 | $170,152 | $242,249 |
Source: Ownwell
Property Tax Bills Across Thomasville, North Carolina
In Thomasville, Davidson County, NC, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and often reflects a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, with a median home price of $121,885, homeowners in Thomasville can expect varying tax bills. At the 25th percentile, the tax bill is around $776, while at the 75th percentile, it rises to approximately $1,601. For those at the 90th percentile, the tax bill can reach up to $2,126. The highest median tax bill in the area is $1,184, which is consistent across the 27360 zip code. Compared to the national median property tax rate of 0.99%, Thomasville homeowners experience a range of tax burdens, which can significantly impact their annual expenses. Understanding these factors is crucial for homeowners to budget effectively and appeal if necessary.
Average Thomasville Tax Bill
$1,184
Average Davidson County Tax Bill
$1,125
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Thomasville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27360 | $509 | $776 | $1,184 | $1,601 | $2,126 |
Source: Ownwell