Richlands, Duplin County, North Carolina Property Taxes
The median property tax rate in Richlands, NC is 0.92%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Richlands at $73,000, the typical annual property tax bill amounts to $756, which is well below the national median of $2,690. Property taxes in Richlands are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Richlands' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Richlands or another part of Duplin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Richlands, Duplin County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$672
$623
Ownwell’s Richlands Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richlands with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richlands 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 Richlands, Duplin County, North Carolina
Property taxes in Richlands, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richlands is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Richlands set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richlands 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 Richlands' effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28574 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Richlands provides valuable insights into the varying tax landscape across Duplin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richlands Tax Rate
0.92%
Average Duplin County Tax Rate
0.96%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richlands, Duplin County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28574 | 0.76% | 0.84% | 0.92% | 1.02% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Richlands, Duplin County, North Carolina
In Richlands, 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 Duplin 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 Richlands, 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. The median home price in Richlands is $73,000, with tax bills ranging from $529 at the 25th percentile to $1,556 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Richlands, Duplin County, North Carolina
Source: Ownwell
$61,300
$70,750
$80,200
Average Richlands Assessed Value
$73,000
Average Duplin County Assessed Value
$70,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richlands, Duplin County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28574 | $39,160 | $53,100 | $73,000 | $124,300 | $178,800 |
Source: Ownwell
Property Tax Bills Across Richlands, Duplin County, North Carolina
Property tax bills in Richlands, located in Duplin County, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Richlands typically see tax bills that vary depending on their property's assessed value, with the median home price being $73,000. For instance, the 25th percentile tax bill is around $529, while the 75th percentile tax bill can be as high as $1,180. The highest median tax bill in the area is $756, which is relatively modest compared to the national median property tax rate of 0.99%. These figures illustrate the range of property tax burdens homeowners might face. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence the assessed value and, consequently, the tax bill. Understanding these elements helps homeowners anticipate and manage their property tax expenses more effectively.
Average Richlands Tax Bill
$756
Average Duplin County Tax Bill
$757
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Richlands, Duplin County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28574 | $410 | $529 | $756 | $1,180 | $1,556 |
Source: Ownwell