Climax, North Carolina Property Taxes
The median property tax rate in Climax, NC is 0.89%, which is lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $132,650 in Climax, the typical annual property tax bill amounts to $1,152, falling below the national median of $2,690. Property taxes in Climax are determined based on the assessed value, which is often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Navigating Climax's property tax system, leveraging available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're residing in Climax or investing in its real estate, understanding the local property tax framework is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Climax, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,181
$1,096
Ownwell’s Climax Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Climax with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Climax 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 Climax, North Carolina
Property taxes in Climax, 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 Climax is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Climax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Climax 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 Climax's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27233 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Climax provides valuable insights into the varying tax landscape across Guilford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Climax Tax Rate
0.89%
Average Guilford County Tax Rate
1.35%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Climax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27233 | 0.87% | 0.87% | 0.89% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Climax, North Carolina
In Climax, 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 Guilford 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 Climax, 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 Climax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Climax is $132,650, with the highest and lowest median tax bills both being $1,152 in zip code 27233.
Average Climax Assessed Value
$132,650
Average Guilford County Assessed Value
$164,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Climax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27233 | $24,000 | $54,325 | $132,650 | $193,975 | $286,230 |
Source: Ownwell
Property Tax Bills Across Climax, North Carolina
In Climax, 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 $132,650, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property location within Guilford County and any applicable exemptions or deductions also influence the final tax amount. The 25th percentile tax bill in Climax is around $476, while the 75th percentile reaches $1,718, and the 90th percentile can be as high as $2,531. Compared to the national median property tax rate of 0.99%, homeowners in Climax may find their tax bills relatively manageable. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting community quality and homeowner satisfaction. Understanding how these taxes are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Climax Tax Bill
$1,152
Average Guilford County Tax Bill
$1,922
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Climax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27233 | $218 | $476 | $1,152 | $1,718 | $2,531 |
Source: Ownwell