Louisburg, North Carolina Property Taxes
The median property tax rate in Louisburg, NC is 0.95%, just below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $118,590 in Louisburg, the typical annual property tax bill amounts to $1,131, which is lower than the national median of $2,690. Property taxes in Louisburg are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Louisburg'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 Louisburg or another part of Franklin County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Louisburg, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,127
-$11,807
Ownwell’s Louisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Louisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisburg 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 Louisburg, North Carolina
Property taxes in Louisburg, 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 Louisburg is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Louisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisburg 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 Louisburg's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27549 zip code has both the highest and lowest median property tax rate in Franklin County, standing at 0.95%. Understanding how these areas compare with Louisburg provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisburg Tax Rate
0.95%
Average Franklin County Tax Rate
0.94%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27549 | 0.84% | 0.91% | 0.95% | 1.02% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Louisburg, North Carolina
In Louisburg, 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 Franklin 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 Louisburg, 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 Louisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27549 has the highest and lowest median tax bill, both at $1,131, providing a clear benchmark for property owners in the area.
Property Tax Assessment Values Across Louisburg, North Carolina
Source: Ownwell
$7,500
$126,575
$245,650
Average Louisburg Assessed Value
$118,590
Average Franklin County Assessed Value
$157,340
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27549 | $32,270 | $73,590 | $118,590 | $187,300 | $274,686 |
Source: Ownwell
Property Tax Bills Across Louisburg, North Carolina
Property tax bills in Louisburg, NC, are calculated based on the assessed value of your property, which is determined by the Franklin County tax assessor. This value is then multiplied by the local tax rate to determine your annual tax bill. In Louisburg, the median home price is $118,590. For homeowners in the 25th percentile, the tax bill is approximately $718, while those in the 75th percentile can expect around $1,743. The 90th percentile sees tax bills as high as $2,467. Several factors influence your property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, Louisburg's rates reflect a range that can significantly impact homeowners, depending on their property's assessed value. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Louisburg Tax Bill
$1,131
Average Franklin County Tax Bill
$1,492
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27549 | $312 | $718 | $1,131 | $1,743 | $2,467 |
Source: Ownwell