Welcome, North Carolina Property Taxes
The median property tax rate in WELCOME, NC is 0.65%, which is 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 WELCOME at $75,130, the typical annual property tax bill amounts to $488, far below the national median of $2,690. Property taxes in WELCOME are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding WELCOME'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 WELCOME 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
Welcome, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$488
$453
Ownwell’s WELCOME Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WELCOME with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WELCOME 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 Welcome, North Carolina
Property taxes in Welcome, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Welcome is 0.65%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Welcome set these rates annually, and they can vary significantly across different neighborhoods. Each year, Welcome 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 Welcome's effective property tax rate to other areas in Davidson County and the national median. For comparison, the zip code 27374 has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Welcome 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 Welcome Tax Rate
0.65%
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 Welcome, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27374 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Welcome, North Carolina
In WELCOME, 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 WELCOME, 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 WELCOME helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In WELCOME, the highest and lowest median tax bills are both $488, found in the 27374 zip code.
Average Welcome Assessed Value
$75,130
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 Welcome, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27374 | $75,130 | $75,130 | $75,130 | $75,130 | $75,130 |
Source: Ownwell
Property Tax Bills Across Welcome, North Carolina
In WELCOME, located in Davidson County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor's office and is meant to represent the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to calculate your annual property tax bill. For homeowners in WELCOME, the median home price stands at $75,130, with a consistent median tax bill of $488 across various percentiles. This tax bill is relatively modest compared to the national median property tax rate of 0.99%. Factors such as property improvements, changes in market conditions, and periodic reassessments can affect the assessed value, and consequently, the tax bill. Understanding how property taxes are calculated helps homeowners budget effectively and anticipate any changes in their annual expenses. Keeping an eye on property assessments and local tax rates can provide insights into potential fluctuations in property tax bills.
Average Welcome Tax Bill
$488
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 Welcome, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27374 | $488 | $488 | $488 | $488 | $488 |
Source: Ownwell