Turkey, North Carolina Property Taxes
The median property tax rate in Turkey, NC is 0.95%, 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 Turkey at $82,250, the typical annual property tax bill amounts to $740, which is significantly below the national median of $2,690. Property taxes in Turkey are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Turkey'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 Turkey 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
Turkey, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$781
$725
Ownwell’s Turkey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turkey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turkey 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 Turkey, North Carolina
Property taxes in Turkey, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turkey is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Turkey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turkey 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 Turkey's effective property tax rate to other areas within Duplin County and the national median. For comparison, the zip code 28393 has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these areas compare with Turkey 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 Turkey Tax Rate
0.95%
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 Turkey, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28393 | 0.83% | 0.86% | 0.95% | 1.00% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Turkey, North Carolina
In Turkey, 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 Turkey, 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 Turkey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28393 has the highest and lowest median tax bill at $740.
Average Turkey Assessed Value
$82,250
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 Turkey, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28393 | $61,570 | $77,950 | $82,250 | $91,000 | $120,190 |
Source: Ownwell
Property Tax Bills Across Turkey, North Carolina
In Turkey, located in Duplin County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Turkey stands at $82,250. Property taxes are influenced by the local tax rate, which is applied to the assessed value of the property. Homeowners in Turkey can expect tax bills ranging from the 25th percentile at $689 to the 75th percentile at $942, with the 90th percentile reaching $1,193. These tax bills are crucial for homeowners as they directly impact their annual financial obligations. Compared to the national median property tax rate of 0.99%, Turkey's property tax rate provides a frame of reference for how local taxes might compare on a broader scale. The uniformity in the highest and lowest median tax bills, both at $740 in the 28393 zip code, highlights a relatively stable tax environment within the region. This stability can help homeowners budget more effectively and plan for long-term financial commitments.
Average Turkey Tax Bill
$740
Average Duplin County Tax Bill
$757
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Turkey, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28393 | $514 | $689 | $740 | $942 | $1,193 |
Source: Ownwell