Middlesex, North Carolina Property Taxes
The median property tax rate in Middlesex, NC is 0.79%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $115,300 in Middlesex, the typical annual property tax bill is $886, significantly below the national median of $2,690. Property taxes in Middlesex are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Middlesex'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 Middlesex 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
Middlesex, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$911
$845
Ownwell’s Middlesex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middlesex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middlesex 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 Middlesex, North Carolina
Property taxes in Middlesex, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlesex is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Middlesex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlesex 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 Middlesex's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27557 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Middlesex 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 Middlesex Tax Rate
0.79%
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 Middlesex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27557 | 0.75% | 0.79% | 0.79% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Middlesex, North Carolina
In Middlesex, 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 in Middlesex 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 Middlesex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Middlesex is $115,300, with the highest and lowest median tax bills both at $886 in the 27557 zip code.
Property Tax Assessment Values Across Middlesex, North Carolina
Source: Ownwell
$91,150
$173,400
$255,650
Average Middlesex Assessed Value
$115,300
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 Middlesex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27557 | $66,176 | $82,960 | $115,300 | $200,660 | $256,542 |
Source: Ownwell
Property Tax Bills Across Middlesex, North Carolina
In Middlesex, located in Johnston County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor's office and reflects the market value of the property. Homeowners in Middlesex experience a range of property tax bills, with the 25th percentile bill being $625 and the 75th percentile reaching $1,497. For those at the 90th percentile, the tax bill can go up to $1,970. Several factors influence the property tax bill, including the size of the property, its location, and any improvements made to it. The local tax rate is applied to the assessed value to determine the final tax bill. Compared to the national median property tax rate of 0.99%, Middlesex homeowners may find their tax bills relatively manageable. The impact on homeowners can vary; higher property taxes can affect affordability, while lower taxes can make homeownership more attractive. Understanding these factors helps homeowners anticipate and plan for their annual property tax obligations.
Average Middlesex Tax Bill
$886
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 Middlesex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27557 | $484 | $625 | $886 | $1,497 | $1,970 |
Source: Ownwell