Laurel Park, North Carolina Property Taxes
The median property tax rate in Laurel Park, NC is 0.57%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Laurel Park, the typical annual property tax bill is $57, far below the national median of $2,690. Property taxes in Laurel Park 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 Laurel Park'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 Laurel Park 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
Laurel Park, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$57
$53
Ownwell’s Laurel Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laurel Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurel Park 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 Laurel Park, North Carolina
Property taxes in Laurel Park, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurel Park is 0.57%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Laurel Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurel Park 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 Laurel Park's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28739 has the highest median property tax rate of 0.57%, while the lowest median tax rate is also 0.57% in the same zip code. Understanding how these cities compare with Laurel Park provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurel Park Tax Rate
0.57%
Average Henderson County Tax Rate
0.44%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurel Park, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28739 | 0.56% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Laurel Park, North Carolina
In Laurel Park, 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 Henderson 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 Laurel Park, 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 Laurel Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in the area is $57, with the highest being $273.
Property Tax Assessment Values Across Laurel Park, North Carolina
Source: Ownwell
$10,000
$189,000
$368,000
Average Laurel Park Assessed Value
$10,000
Average Henderson County Assessed Value
$308,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laurel Park, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28739 | $10,000 | $10,000 | $10,000 | $10,000 | $49,050 |
Source: Ownwell
Property Tax Bills Across Laurel Park, North Carolina
In Laurel Park, located in Henderson County, NC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Laurel Park can expect their property tax bills to be influenced by several factors, including the local tax rate and any applicable exemptions. The median home price in Laurel Park is $10,000. With a tax bill at the 25th and 75th percentiles being $57, and at the 90th percentile reaching $273, it’s clear that property taxes can vary significantly depending on the property's assessed value. Compared to the national median property tax rate of 0.99%, the tax rates in Laurel Park can be considered relatively moderate. Understanding these factors is crucial for homeowners as it directly impacts their annual financial obligations. Accurate assessments ensure fair taxation, enabling homeowners to plan their budgets effectively and avoid unexpected financial burdens.
Average Laurel Park Tax Bill
$57
Average Henderson County Tax Bill
$1,336
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurel Park, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28739 | $57 | $57 | $57 | $57 | $273 |
Source: Ownwell