Gibsonville, North Carolina Property Taxes
The median property tax rate in Gibsonville, NC is 0.88%, slightly 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 $137,350 in Gibsonville, the typical annual property tax bill reaches $1,417, which is below the national median of $2,690. Property taxes in Gibsonville are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural land. By understanding Gibsonville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Gibsonville or another part of the city, comprehending the local property tax system will provide substantial financial benefits.
Last Updated June 14, 2024
Gibsonville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,209
Ownwell’s Gibsonville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Gibsonville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gibsonville to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities. For those interested in more detailed information, trends on a neighborhood level are available further down the page. Your property’s assessed value, determined by Guilford County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Gibsonville, North Carolina
Property taxes in Gibsonville, 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 Gibsonville is 0.88%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Gibsonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gibsonville 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 Gibsonville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27249 has both the highest and lowest median property tax rate of 0.88%. Understanding how these areas compare with Gibsonville 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 Gibsonville Tax Rate
0.88%
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 Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | 0.82% | 0.87% | 0.88% | 1.26% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Gibsonville, North Carolina
In Gibsonville, 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 Gibsonville, 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 Gibsonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27249, with a median bill of $1,417.
Property Tax Assessment Values Across Gibsonville, North Carolina
Source: Ownwell
$15,000
$189,700
$364,400
Average Gibsonville Assessed Value
$137,350
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 Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | $30,500 | $84,275 | $137,350 | $214,800 | $300,730 |
Source: Ownwell
Property Tax Bills Across Gibsonville, North Carolina
In Gibsonville, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county, reflecting the market value of the property. For instance, with a median home price of $137,350, homeowners can expect their tax bills to vary significantly. Factors such as property size, location, and improvements can influence the assessed value. In Guilford County, the 25th percentile of tax bills is around $756, while the 75th percentile reaches up to $2,218. The highest median tax bill in the area is $1,417, which is still below the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, emergency services, and infrastructure. For homeowners, understanding these factors is crucial as they directly impact annual expenses and the overall affordability of their property. By staying informed, residents of Gibsonville can better manage their finances and plan for future tax obligations.
Average Gibsonville Tax Bill
$1,417
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 Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | $346 | $756 | $1,417 | $2,218 | $3,160 |
Source: Ownwell