Teachey, North Carolina Property Taxes
The median property tax rate in Teachey, NC is 0.91%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Teachey at $73,800, the typical annual property tax bill is $722, which is significantly lower than the national median of $2,690. Property taxes in Teachey are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Teachey'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 Teachey 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
Teachey, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$672
Ownwell’s Teachey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Teachey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Teachey 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 Teachey, North Carolina
Property taxes in Teachey, 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 Teachey is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Teachey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Teachey 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 Teachey's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28464 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Teachey 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 Teachey Tax Rate
0.91%
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 Teachey, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28464 | 0.73% | 0.74% | 0.91% | 1.03% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Teachey, North Carolina
In Teachey, 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 Teachey, 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 Teachey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $73,800, with tax bills ranging from $503 at the 25th percentile to $1,623 at the 90th percentile. The zip code 28464 has both the highest and lowest median tax bill, at $722.
Average Teachey Assessed Value
$73,800
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 Teachey, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28464 | $20,500 | $46,900 | $73,800 | $123,100 | $149,400 |
Source: Ownwell
Property Tax Bills Across Teachey, North Carolina
In Teachey, located in Duplin County, NC, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The median home price in Teachey stands at $73,800. To calculate the tax bill, the assessed value is multiplied by the local property tax rate. For homeowners in Teachey, the property tax rate is relatively modest compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include the assessed value of the property, local tax rates, and applicable exemptions or deductions. Homeowners in Teachey can expect tax bills ranging from the 25th percentile at $503 to the 90th percentile at $1,623, with the median tax bill being $722. This range reflects the varying property values and individual circumstances of homeowners. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Teachey Tax Bill
$722
Average Duplin County Tax Bill
$757
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Teachey, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28464 | $328 | $503 | $722 | $1,034 | $1,623 |
Source: Ownwell