Farmville, North Carolina Property Taxes
The median property tax rate in Farmville, NC is 0.96%, slightly lower than the national median of 0.99% but higher than North Carolina's state median of 0.82%. With a median home value of $90,045 in Farmville, the typical annual property tax bill amounts to $817, which is significantly below the national median of $2,690. Property taxes in Farmville are based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Farmville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Farmville 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
Farmville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$864
$802
Ownwell’s Farmville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farmville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farmville 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 Farmville, North Carolina
Property taxes in Farmville, 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 Farmville is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Farmville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farmville 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 Farmville's effective property tax rate to other areas in Greene County and the national median. For comparison, the zip code 27828 has both the highest and lowest median property tax rate of 0.96%. Understanding how these areas compare with Farmville provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farmville Tax Rate
0.96%
Average Greene County Tax Rate
0.97%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farmville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27828 | 0.43% | 0.90% | 0.96% | 1.00% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Farmville, North Carolina
In Farmville, 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 Greene 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 Farmville, 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 Farmville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $817, found in the 27828 zip code.
Property Tax Assessment Values Across Farmville, North Carolina
Source: Ownwell
$55,950
$81,008
$106,065
Average Farmville Assessed Value
$90,045
Average Greene County Assessed Value
$87,680
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Farmville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27828 | $46,064 | $66,332 | $90,045 | $132,350 | $197,954 |
Source: Ownwell
Property Tax Bills Across Farmville, North Carolina
In Farmville, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Greene County tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For example, a median home price in Farmville is $90,045, and the tax bill can range significantly. At the 25th percentile, homeowners might pay around $602, while those at the 75th percentile could see bills as high as $1,146. The 90th percentile tax bill can reach up to $1,645. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Farmville may find their tax bills either more manageable or more burdensome, depending on their property's assessed value and specific circumstances.
Average Farmville Tax Bill
$817
Average Greene County Tax Bill
$818
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Farmville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27828 | $373 | $602 | $817 | $1,146 | $1,645 |
Source: Ownwell