Scranton, North Carolina Property Taxes
The median property tax rate in Scranton, NC is 0.90%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Scranton at $51,993, the typical annual property tax bill is $466, which is significantly lower than the national median of $2,690. Property taxes in Scranton are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Scranton'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 Scranton 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
Scranton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$468
$434
Ownwell’s Scranton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scranton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scranton 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 Scranton, North Carolina
Property taxes in Scranton, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scranton is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Scranton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scranton 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 Scranton's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27875 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these areas compare with Scranton 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 Scranton 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 Scranton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27875 | 0.89% | 0.89% | 0.90% | 0.90% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Scranton, North Carolina
In Scranton, 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 Scranton, 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. For example, the highest median tax bill in Scranton is $466 in the zip code 27875. Being aware of these valuation processes in Scranton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Scranton, North Carolina
Source: Ownwell
$50,948
$159,903
$268,857
Average Scranton Assessed Value
$51,993
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 Scranton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27875 | $10,996 | $23,774 | $51,993 | $150,258 | $268,635 |
Source: Ownwell
Property Tax Bills Across Scranton, North Carolina
In Scranton, Hyde County, NC, 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 assessor and reflects the market value of the property. Homeowners in Scranton can expect a range of property tax bills, with the 25th percentile at $211, the 75th percentile at $1,343, and the 90th percentile reaching up to $2,404. The median home price in Scranton is $51,993, which influences the overall tax burden. The tax bill is calculated by multiplying the assessed value by the local tax rate. Factors such as property improvements and market conditions can affect the assessed value, thus impacting the tax bill. For homeowners, these property taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Scranton's property tax bills reflect the local economic conditions and property values, providing a crucial revenue stream for community services.
Average Scranton Tax Bill
$466
Average Hyde County Tax Bill
$681
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Scranton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27875 | $98 | $211 | $466 | $1,343 | $2,404 |
Source: Ownwell