Pantego, North Carolina Property Taxes
The median property tax rate in Pantego, NC, is 0.90%, 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 $95,768 in Pantego, the typical annual property tax bill amounts to $895, which is below the national median of $2,690. Property taxes in Pantego are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Pantego'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 Pantego 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
Pantego, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$862
Ownwell’s Pantego Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Pantego using just two data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Pantego to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Pantego, North Carolina
Property taxes in Pantego, 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 Pantego is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Pantego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pantego 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 Pantego's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27860 has the highest median property tax rate of 0.90%, while also having the lowest median tax rate of 0.90%. Understanding how these cities compare with Pantego provides valuable insights into the varying tax landscape across Hyde County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pantego Tax Rate
0.90%
Average Hyde County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pantego, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27860 | 0.89% | 0.89% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Pantego, North Carolina
In Pantego, 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 Hyde 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 Pantego, 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. The median home price in Pantego is $95,768, with tax bills ranging from $416 at the 25th percentile to $1,699 at the 90th percentile. 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 Pantego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pantego Assessed Value
$95,768
Average Hyde County Assessed Value
$78,676
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pantego, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27860 | $11,284 | $44,873 | $95,768 | $135,382 | $177,710 |
Source: Ownwell
Property Tax Bills Across Pantego, North Carolina
In Pantego, Hyde County, NC, property tax bills are calculated based on the assessed value of a property, not its market value. The assessed value is determined by the county assessor and reflects the property's worth for tax purposes. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Pantego, the median home price is $95,768, which significantly influences the tax bill. The 25th percentile tax bill is $416, while the 75th percentile tax bill reaches $1,230, and the 90th percentile goes up to $1,699. The highest median tax bill in the area is $895, which is consistent across the zip code 27860. Compared to the national median property tax rate of 0.99%, Pantego's property tax rates can vary but generally remain competitive. This variation in tax bills affects homeowners by influencing their annual expenses and potentially impacting their decisions regarding homeownership and property investments.
Average Pantego Tax Bill
$895
Average Hyde County Tax Bill
$681
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Pantego, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27860 | $188 | $416 | $895 | $1,230 | $1,699 |
Source: Ownwell