Lewisville, North Carolina Property Taxes
The median property tax rate in Lewisville, NC is 0.94%, 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 Lewisville at $236,550, the typical annual property tax bill reaches $2,131, which is below the national median of $2,690. Property taxes in Lewisville 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 Lewisville'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 Lewisville 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
Lewisville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$2,224
Ownwell’s Lewisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewisville 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 Lewisville, North Carolina
Property taxes in Lewisville, 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 Lewisville is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Lewisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewisville 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 Lewisville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27023 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Lewisville 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 Lewisville Tax Rate
0.94%
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 Lewisville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27023 | 0.77% | 0.77% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Lewisville, North Carolina
In Lewisville, 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. In Lewisville, 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 Lewisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,131, found in the 27023 zip code, while the lowest median tax bill is also $2,131 in the same zip code.
Property Tax Assessment Values Across Lewisville, North Carolina
Source: Ownwell
$36,300
$196,950
$357,600
Average Lewisville Assessed Value
$236,550
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 Lewisville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27023 | $123,480 | $168,200 | $236,550 | $354,300 | $537,910 |
Source: Ownwell
Property Tax Bills Across Lewisville, North Carolina
In Lewisville, 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 Lewisville can expect their tax bills to vary depending on their property's assessed value. For instance, the median home price in the area is $236,550, which serves as a benchmark for calculating tax obligations. The tax bill for homes in the 25th percentile is around $1,507, while those in the 75th percentile pay approximately $3,189. High-value properties in the 90th percentile see tax bills reaching up to $4,554. With the highest median tax bill in the 27023 zip code at $2,131, Lewisville's property tax rates are relatively competitive compared to the national median property tax rate of 0.99%. These tax obligations significantly impact homeowners by influencing their overall housing costs and financial planning.
Average Lewisville Tax Bill
$2,131
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 Lewisville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27023 | $983 | $1,507 | $2,131 | $3,189 | $4,554 |
Source: Ownwell