Eure, Gates County, North Carolina Property Taxes
The median property tax rate in Eure, NC is 1.04%, higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Eure at $121,079, the typical annual property tax bill reaches $1,232, exceeding the national median of $2,690. Property taxes in Eure 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 Eure'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 Eure 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
Eure, Gates County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,259
$1,169
Ownwell’s EURE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EURE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EURE 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 Eure, Gates County, North Carolina
Property taxes in EURE, 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 EURE is 1.04%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within EURE set these rates annually, and they can vary significantly across different neighborhoods. Each year, EURE 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 EURE's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27935 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with EURE 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 Eure Tax Rate
1.04%
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 Eure, Gates County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27935 | 0.72% | 0.95% | 1.04% | 1.15% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Eure, Gates County, North Carolina
In Eure, 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. In Eure, 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 Eure helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Eure, zip code 27935 has the highest and lowest median tax bill at $1,232.
Property Tax Assessment Values Across Eure, Gates County, North Carolina
Source: Ownwell
$111,782
$119,517
$127,252
Average Eure Assessed Value
$121,079
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 Eure, Gates County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27935 | $39,699 | $80,122 | $121,079 | $166,374 | $230,922 |
Source: Ownwell
Property Tax Bills Across Eure, Gates County, North Carolina
In Eure, Gates County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Eure is $121,079. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $845 and the 75th percentile at $1607. The highest median tax bill in the area is $1232, which is relatively modest compared to the national median property tax rate of 0.99%. The assessed value of a property is determined by the county assessor and is meant to represent the market value of the home. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. Factors such as property size, location, and market conditions can influence the assessed value, thereby affecting the tax bill. For homeowners, understanding these factors is crucial as property taxes can represent a significant annual expense, impacting overall home affordability and long-term financial planning.
Average Eure Tax Bill
$1,232
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 Eure, Gates County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27935 | $484 | $845 | $1,232 | $1,607 | $2,104 |
Source: Ownwell