Coats, North Carolina Property Taxes
The median property tax rate in Coats, NC is 0.76%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Coats at $154,025, the typical annual property tax bill amounts to $1,406, which is below the national median of $2,690. Property taxes in Coats are determined based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural purposes. Understanding Coats' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Coats or elsewhere in Harnett County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coats, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,171
$1,086
Ownwell’s Coats Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coats with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coats 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 Harnett County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Coats, North Carolina
Property taxes in Coats, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coats is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Coats set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coats 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 Coats' effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27521 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Coats provides valuable insights into the varying tax landscape across Harnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coats Tax Rate
0.76%
Average Harnett County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coats, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27521 | 0.71% | 0.73% | 0.76% | 1.24% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Coats, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Coats, NC. 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 Harnett 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 Coats, 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. With a median home price of $154,025, tax bills in the 25th percentile are around $973, while those in the 75th percentile reach approximately $1,904. The highest median tax bill in Coats is $1,406, found in zip code 27521. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coats Assessed Value
$154,025
Average Harnett County Assessed Value
$199,846
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coats, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27521 | $74,795 | $110,110 | $154,025 | $221,441 | $309,868 |
Source: Ownwell
Property Tax Bills Across Coats, North Carolina
Property tax bills in Coats, located in Harnett County, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county's tax assessor. For homeowners in Coats, the median home price stands at $154,025. The tax bill varies significantly, with the 25th percentile paying around $973, while those in the 75th percentile face bills of approximately $1,904. At the 90th percentile, the tax bill can reach up to $2,411. These variations depend on factors such as property size, location, and any applicable exemptions. Comparatively, the highest and lowest median tax bills in the area are both $1,406, making it a relatively stable tax environment. These property taxes directly impact homeowners by affecting their annual financial planning and potentially influencing property values. With the national median property tax rate at 0.99%, homeowners in Coats can gauge their local tax obligations against the broader national landscape.
Average Coats Tax Bill
$1,406
Average Harnett County Tax Bill
$1,570
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Coats, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27521 | $659 | $973 | $1,406 | $1,904 | $2,411 |
Source: Ownwell