Tobaccoville, North Carolina Property Taxes
The median property tax rate in Tobaccoville, NC is 0.78%, 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 $149,100 in Tobaccoville, the typical annual property tax bill is around $1,173, significantly below the national median of $2,690. Property taxes in Tobaccoville are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Tobaccoville'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 Tobaccoville 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
Tobaccoville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,163
$1,079
Ownwell’s Tobaccoville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tobaccoville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tobaccoville 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 Tobaccoville, North Carolina
Property taxes in Tobaccoville, 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 Tobaccoville is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Tobaccoville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tobaccoville 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 Tobaccoville's effective property tax rate to other areas in Forsyth County and the national median. For comparison, the zip code 27050 has the highest median property tax rate of 0.78%, while the lowest median tax rate is also 0.78%. Understanding how these areas compare with Tobaccoville 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 Tobaccoville Tax Rate
0.78%
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 Tobaccoville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27050 | 0.77% | 0.78% | 0.78% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Tobaccoville, North Carolina
In Tobaccoville, 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 Tobaccoville, 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 Tobaccoville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tobaccoville is $149,100, with tax bills ranging from $807 at the 25th percentile to $2,383 at the 90th percentile. The highest and lowest median tax bills are both found in the 27050 zip code at $1,173.
Property Tax Assessment Values Across Tobaccoville, North Carolina
Source: Ownwell
$36,300
$196,950
$357,600
Average Tobaccoville Assessed Value
$149,100
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 Tobaccoville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27050 | $57,360 | $107,500 | $149,100 | $203,200 | $306,220 |
Source: Ownwell
Property Tax Bills Across Tobaccoville, North Carolina
In Tobaccoville, Forsyth County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For example, the median home price in Tobaccoville is $149,100, which provides a benchmark for tax calculations. Homeowners in Tobaccoville can expect varying tax bills depending on their property values. The tax bill for the 25th percentile is approximately $807, while those in the 75th percentile pay around $1,607. At the 90th percentile, the tax bill can reach up to $2,383. These figures highlight the range of tax liabilities homeowners might face, with the highest median tax bill recorded at $1,173 in the zip code 27050. With the national median property tax rate at 0.99%, Tobaccoville's tax rates are competitive, providing a relatively moderate tax burden for its residents.
Average Tobaccoville Tax Bill
$1,173
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 Tobaccoville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27050 | $397 | $807 | $1,173 | $1,607 | $2,383 |
Source: Ownwell