Lincolnton, Gaston County, North Carolina Property Taxes
The median property tax rate in Lincolnton, NC is 1.14%, noticeably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $93,220, the typical annual property tax bill in Lincolnton amounts to $1,183, surpassing the national median of $2,690. Property taxes here are based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Lincolnton'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 Lincolnton or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lincolnton, Gaston County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,063
$986
Ownwell’s Lincolnton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincolnton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincolnton 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 Lincolnton, Gaston County, North Carolina
Property taxes in Lincolnton, 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 Lincolnton is 1.14%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Lincolnton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lincolnton 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 Lincolnton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28092 zip code has the highest median property tax rate of 1.14%, while the 28092 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Lincolnton provides valuable insights into the varying tax landscape across Gaston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincolnton Tax Rate
1.14%
Average Gaston County Tax Rate
1.65%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincolnton, Gaston County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | 0.85% | 0.97% | 1.14% | 1.25% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Lincolnton, Gaston County, North Carolina
In Lincolnton, 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 Gaston County Assessor 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 Lincolnton, 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 Lincolnton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28092 has the highest and lowest median tax bill at $1,183, showcasing the variability within the region.
Property Tax Assessment Values Across Lincolnton, Gaston County, North Carolina
Source: Ownwell
$48,800
$154,335
$259,870
Average Lincolnton Assessed Value
$93,220
Average Gaston County Assessed Value
$132,190
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincolnton, Gaston County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | $16,998 | $45,580 | $93,220 | $175,950 | $236,484 |
Source: Ownwell
Property Tax Bills Across Lincolnton, Gaston County, North Carolina
In Lincolnton, located in Gaston County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Lincolnton experience a range of property tax bills, with the 25th percentile at $505 and the 75th percentile reaching $2,102. The highest median tax bill in the area is $1,183, which aligns with the county's median. Several factors influence the tax bill, including the property's location, size, and condition. Comparatively, the property tax rate in Lincolnton is influenced by local budgetary needs and is used to fund essential services like schools, infrastructure, and public safety. For homeowners, understanding how these factors contribute to their tax bill is crucial, as it directly impacts their annual expenses. With the national median property tax rate at 0.99%, homeowners in Lincolnton can gauge where they stand relative to the broader market.
Property Tax Bills Across Lincolnton, Gaston County, North Carolina
Source: Ownwell
$1,016
$2,714
$4,411
Average Lincolnton Tax Bill
$1,183
Average Gaston County Tax Bill
$2,130
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincolnton, Gaston County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28092 | $180 | $505 | $1,183 | $2,102 | $2,773 |
Source: Ownwell