Belvidere, North Carolina Property Taxes
The median property tax rate in Belvidere, NC is 0.98%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Belvidere at $121,548, the typical annual property tax bill amounts to $1,241, which is lower than the national median of $2,690. Property taxes in Belvidere are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Belvidere'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 Belvidere or another part of Gates County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belvidere, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,191
$1,105
Ownwell’s Belvidere Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belvidere with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belvidere 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 Belvidere, North Carolina
Property taxes in Belvidere, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belvidere is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Belvidere set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belvidere 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 Belvidere's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27919 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Belvidere provides valuable insights into the varying tax landscape across Gates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belvidere Tax Rate
0.98%
Average Gates County Tax Rate
1.03%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belvidere, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27919 | 0.74% | 0.90% | 0.98% | 1.09% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Belvidere, North Carolina
In Belvidere, 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 Gates 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. Assessment notices in Belvidere 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 Belvidere helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Belvidere is $121,548, with tax bills ranging from $932 at the 25th percentile to $2,249 at the 90th percentile. The highest and lowest median tax bills are both $1,241 in the 27919 zip code.
Property Tax Assessment Values Across Belvidere, North Carolina
Source: Ownwell
$97,638
$112,445
$127,252
Average Belvidere Assessed Value
$121,548
Average Gates County Assessed Value
$119,144
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belvidere, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27919 | $74,155 | $90,745 | $121,548 | $190,880 | $261,162 |
Source: Ownwell
Property Tax Bills Across Belvidere, North Carolina
In Belvidere, Gates County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $121,548, homeowners in Belvidere can expect varying tax bills depending on the specific assessment and applicable exemptions. The tax bill at the 25th percentile is about $932, while at the 75th percentile, it rises to approximately $1,898. For those at the 90th percentile, the tax bill can reach up to $2,249. These figures illustrate the range of property tax obligations homeowners might face, influenced by factors such as property value, location, and any qualifying exemptions. Compared to the national median property tax rate of 0.99%, Belvidere's property tax rates provide a localized perspective on how property taxes can impact homeowners, highlighting the importance of accurate assessments and potential savings through appeals.
Average Belvidere Tax Bill
$1,241
Average Gates County Tax Bill
$1,215
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Belvidere, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27919 | $791 | $932 | $1,241 | $1,898 | $2,249 |
Source: Ownwell