Newton Grove, North Carolina Property Taxes
The median property tax rate in Newton Grove, NC is 0.80%, 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 $114,015, the typical annual property tax bill in Newton Grove amounts to $853, significantly less than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Newton Grove's property tax system, leveraging available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newton Grove or another part of Johnston County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Newton Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$912
$846
Ownwell’s Newton Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton Grove 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 Newton Grove, North Carolina
Property taxes in Newton Grove, 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 Newton Grove is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Newton Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton Grove 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 Newton Grove's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28366 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 Newton Grove 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 Newton Grove 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 Newton Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28366 | 0.47% | 0.77% | 0.80% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Newton Grove, North Carolina
In Newton Grove, 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. In Newton Grove, 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 Newton Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Newton Grove is $114,015, with median tax bills ranging from $578 at the 25th percentile to $1,669 at the 90th percentile. The zip code with the highest and lowest median tax bill is 28366, both at $853.
Property Tax Assessment Values Across Newton Grove, North Carolina
Source: Ownwell
$91,150
$173,400
$255,650
Average Newton Grove Assessed Value
$114,015
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 Newton Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28366 | $58,059 | $79,468 | $114,015 | $158,890 | $233,376 |
Source: Ownwell
Property Tax Bills Across Newton Grove, North Carolina
In Newton Grove, Johnston County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in this area is $114,015. To calculate the tax bill, the assessed value is multiplied by the local property tax rate. For Newton Grove, the median property tax rate is 0.75%, which is lower than the national median of 0.99%. Several factors influence the final tax bill, including the assessed value of the home, any applicable exemptions, and the local tax rate. For example, the 25th percentile tax bill is $578, while the 75th percentile tax bill is $1,172, and the 90th percentile reaches up to $1,669. These variations show how different property values and potential exemptions can impact the amount homeowners owe. Understanding these factors helps homeowners in Newton Grove anticipate their property tax obligations and manage their finances more effectively.
Average Newton Grove Tax Bill
$853
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 Newton Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28366 | $394 | $578 | $853 | $1,172 | $1,669 |
Source: Ownwell