Warrenton, North Carolina Property Taxes
The median property tax rate in Warrenton, NC is 0.96%, slightly below the national median of 0.99% but above the North Carolina state median of 0.82%. With the median home value in Warrenton, the typical annual property tax bill reaches $497, significantly lower than the national median of $2,690. Property taxes in Warrenton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Warrenton'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 Warrenton 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
Warrenton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$601
-$6,301
Ownwell’s Warrenton Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Warrenton. With just two data points, you can quickly get an estimate by entering your property's assessed value, and the calculator will apply the median tax rate in Warrenton to provide an accurate property tax bill. This tool is designed to help you understand your potential tax liabilities better. For those interested in more detailed insights, localized neighborhood trends are available further down the page. Your property’s assessed value is determined by the county for tax purposes and may include applicable exemptions.
Property Tax Rates Across Warrenton, North Carolina
Property taxes in Warrenton, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warrenton is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Warrenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warrenton 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 Warrenton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27589 has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Warrenton 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 Warrenton Tax Rate
0.96%
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 Warrenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27589 | 0.62% | 0.86% | 0.96% | 1.08% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Warrenton, North Carolina
In Warrenton, 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 local 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 Warrenton, 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 Warrenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 27589, with a median tax bill of $497.
Property Tax Assessment Values Across Warrenton, North Carolina
Source: Ownwell
$7,500
$126,575
$245,650
Average Warrenton Assessed Value
$62,626
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 Warrenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27589 | $13,972 | $23,950 | $62,626 | $100,780 | $136,020 |
Source: Ownwell
Property Tax Bills Across Warrenton, North Carolina
In Warrenton, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Warrenton is $62,626. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as location, property size, and improvements can influence the assessed value. For homeowners in Warrenton, property tax bills can vary significantly. At the 25th percentile, the tax bill is $273, while at the 75th percentile, it rises to $853. Those in the 90th percentile pay around $1,091 annually. Compared to the national median property tax rate of 0.99%, Warrenton's tax bills offer a range that reflects the diversity in property values and assessments within the city. Homeowners should be aware of these factors as they can significantly impact their annual expenses. Understanding how these elements interplay can help homeowners better anticipate their financial obligations and plan accordingly.
Average Warrenton Tax Bill
$497
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 Warrenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27589 | $122 | $273 | $497 | $853 | $1,091 |
Source: Ownwell