Fountain, North Carolina Property Taxes
The median property tax rate in Fountain, NC is 1.15%, notably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Fountain at $68,872, the typical annual property tax bill reaches $824, which is below the national median of $2,690. Property taxes in Fountain are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fountain'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 Fountain 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
Fountain, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$792
$735
Ownwell’s Fountain Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fountain 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 Fountain, North Carolina
Property taxes in Fountain, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fountain is 1.15%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fountain 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 Fountain's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27829 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with Fountain provides valuable insights into the varying tax landscape across Edgecombe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fountain Tax Rate
1.15%
Average Edgecombe County Tax Rate
0.95%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27829 | 1.03% | 1.08% | 1.15% | 1.23% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Fountain, North Carolina
In Fountain, 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 Edgecombe 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 Fountain, 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 Fountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fountain is $824 in the zip code 27829, while the lowest median tax bill is also $824 in the same zip code.
Average Fountain Assessed Value
$68,872
Average Edgecombe County Assessed Value
$68,521
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27829 | $17,860 | $33,370 | $68,872 | $110,901 | $170,644 |
Source: Ownwell
Property Tax Bills Across Fountain, North Carolina
In Fountain, Edgecombe County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $68,872, homeowners can expect varying tax bills. The 25th percentile tax bill is around $430, while the 75th percentile tax bill can reach up to $1,265. At the 90th percentile, some homeowners may see tax bills as high as $1,988. Several factors influence these calculations, including property size, location, and any improvements made to the property. These tax bills directly impact homeowners by affecting their annual expenses and potentially influencing their decisions on property investments. Compared to the national median property tax rate of 0.99%, Fountain's rates offer a unique perspective on local property taxation, highlighting the importance of understanding regional tax obligations.
Average Fountain Tax Bill
$824
Average Edgecombe County Tax Bill
$709
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27829 | $216 | $430 | $824 | $1,265 | $1,988 |
Source: Ownwell