Germanton, North Carolina Property Taxes
The median property tax rate in Germanton, NC is 0.79%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $122,500 in Germanton, the typical annual property tax bill is $947, significantly below the national median of $2,690. Property taxes in Germanton 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 Germanton'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 Germanton or another part of Forsyth County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Germanton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$968
$898
Ownwell’s Germanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Germanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Germanton 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 Germanton, North Carolina
Property taxes in Germanton, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Germanton is 0.79%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Germanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Germanton 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 Germanton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27019 zip code has the highest median property tax rate of 0.79%, while the same 27019 zip code also has the lowest median tax rate of 0.79%. Understanding how these areas compare with Germanton provides valuable insights into the varying tax landscape across Forsyth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Germanton Tax Rate
0.79%
Average Forsyth County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Germanton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27019 | 0.65% | 0.79% | 0.79% | 0.80% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Germanton, North Carolina
In Germanton, 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 Forsyth 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. 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 Germanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $947, found in the 27019 zip code.
Property Tax Assessment Values Across Germanton, North Carolina
Source: Ownwell
$36,300
$196,950
$357,600
Average Germanton Assessed Value
$122,500
Average Forsyth County Assessed Value
$158,600
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Germanton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27019 | $32,000 | $91,200 | $122,500 | $172,700 | $273,600 |
Source: Ownwell
Property Tax Bills Across Germanton, North Carolina
In Germanton, Forsyth County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Germanton experience a range of tax bills, with the 25th percentile at $628 and the 75th percentile at $1,325. The 90th percentile reaches up to $1,976, indicating that higher-value properties incur significantly higher taxes. The median home price in Germanton stands at $122,500, and the median tax bill is $947. This rate is below the national median property tax rate of 0.99%, making it relatively affordable for homeowners. Factors influencing the tax bill include property improvements, neighborhood changes, and local government budgets. For homeowners, understanding these factors is crucial as they directly impact annual expenses, potentially affecting household budgets and long-term financial planning. The local tax rate and assessed value work together to determine the final tax bill, making it essential for homeowners to stay informed about property assessments and any changes in tax legislation.
Average Germanton Tax Bill
$947
Average Forsyth County Tax Bill
$1,755
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Germanton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27019 | $224 | $628 | $947 | $1,325 | $1,976 |
Source: Ownwell