Four Oaks, North Carolina Property Taxes
The median property tax rate in Four Oaks, NC is 0.80%, which is slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Four Oaks at $147,600, the typical annual property tax bill reaches $1,180, significantly below the national median of $2,690. Property taxes in Four Oaks are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Four Oaks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Four Oaks 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
Four Oaks, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,181
$1,096
Ownwell’s Four Oaks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Four Oaks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Four Oaks 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 Johnston County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Four Oaks, North Carolina
Property taxes in Four Oaks, 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 Four Oaks is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Four Oaks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Four Oaks 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 Four Oaks' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27524 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Four Oaks provides valuable insights into the varying tax landscape across Johnston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Four Oaks Tax Rate
0.80%
Average Johnston County Tax Rate
0.81%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Four Oaks, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27524 | 0.62% | 0.79% | 0.80% | 0.82% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Four Oaks, North Carolina
In Four Oaks, 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 Johnston 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. 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 Four Oaks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Four Oaks is $1,180 in the 27524 zip code, while the lowest median tax bill is also $1,180 in the same zip code.
Property Tax Assessment Values Across Four Oaks, North Carolina
Source: Ownwell
$91,150
$173,400
$255,650
Average Four Oaks Assessed Value
$147,600
Average Johnston County Assessed Value
$190,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Four Oaks, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27524 | $67,150 | $98,390 | $147,600 | $219,020 | $299,046 |
Source: Ownwell
Property Tax Bills Across Four Oaks, North Carolina
In Four Oaks, located in Johnston County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in Four Oaks is $147,600, which serves as a baseline for determining tax obligations. Homeowners can expect their tax bills to fall within a range depending on their property’s assessed value and applicable exemptions. The 25th percentile tax bill is approximately $764, while the 75th percentile tax bill is around $1805. For those at the higher end, the 90th percentile tax bill reaches up to $2389. These figures are influenced by the county's tax rate, which may vary slightly but generally aligns with the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can also affect the final tax bill. Understanding these elements is crucial for homeowners in managing their annual property tax expenses and planning their finances accordingly.
Average Four Oaks Tax Bill
$1,180
Average Johnston County Tax Bill
$1,676
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Four Oaks, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27524 | $502 | $764 | $1,180 | $1,805 | $2,389 |
Source: Ownwell