Albertson, North Carolina Property Taxes
The median property tax rate in Albertson, NC is 0.94%, 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 Albertson at $77,071, the typical annual property tax bill amounts to $742, which is significantly lower than the national median of $2,690. Property taxes in Albertson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Albertson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Albertson or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Albertson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$724
Ownwell’s Albertson Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Albertson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albertson to provide an accurate estimate of 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 Albertson, North Carolina
Property taxes in Albertson, 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 Albertson is 0.94%, which is lower than the U.S. national median of 0.99%. Local government entities within Albertson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albertson 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 Albertson's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28508 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Albertson provides valuable insights into the varying tax landscape across Lenoir County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albertson Tax Rate
0.94%
Average Lenoir County Tax Rate
1.07%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albertson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28508 | 0.91% | 0.92% | 0.94% | 0.95% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Albertson, North Carolina
In Albertson, 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 Lenoir 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 Albertson, 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 Albertson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 28508, with a median bill of $742.00, while the lowest median tax bill is also in zip code 28508, with the same median bill of $742.00.
Property Tax Assessment Values Across Albertson, North Carolina
Source: Ownwell
$41,983
$72,309
$102,634
Average Albertson Assessed Value
$77,071
Average Lenoir County Assessed Value
$66,089
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albertson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28508 | $27,878 | $46,326 | $77,071 | $107,816 | $126,264 |
Source: Ownwell
Property Tax Bills Across Albertson, North Carolina
In Albertson, NC, property tax bills are calculated based on the assessed value of a home, not its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, the median home price in Albertson is $77,071, and homeowners can expect tax bills that vary significantly. At the 25th percentile, the tax bill is approximately $442, while it reaches around $1,043 at the 75th percentile and $1,224 at the 90th percentile. These tax rates and bills are influenced by several factors, including local government budgets, school funding needs, and public service requirements. Homeowners in Albertson may find their tax bills higher or lower depending on these variables. Compared to the national median property tax rate of 0.99%, Albertson's rates reflect the specific financial needs and policies of Lenoir County. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their financial planning accordingly.
Average Albertson Tax Bill
$742
Average Lenoir County Tax Bill
$738
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Albertson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28508 | $261 | $442 | $742 | $1,043 | $1,224 |
Source: Ownwell