Hookerton, Lenoir County, North Carolina Property Taxes
The median property tax rate in Hookerton, NC is 0.97%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $54,711, the typical annual property tax bill in Hookerton is around $590, which is significantly lower than the national median of $2,690. Property taxes in Hookerton are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Hookerton'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 Hookerton or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Hookerton, Lenoir County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$531
$492
Ownwell’s Hookerton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hookerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hookerton 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 Hookerton, Lenoir County, North Carolina
Property taxes in Hookerton, North Carolina, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Hookerton is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Hookerton set these rates annually, and they can vary across different neighborhoods. Each year, Hookerton 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 Hookerton's effective property tax rate to other areas in Lenoir County and the national median. For comparison, the zip code 28538 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Hookerton 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 Hookerton Tax Rate
0.97%
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 Hookerton, Lenoir County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28538 | 0.90% | 0.91% | 0.97% | 1.07% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Hookerton, Lenoir County, North Carolina
In Hookerton, 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 Hookerton, 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 Hookerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Hookerton both stand at $590 in the 28538 zip code.
Property Tax Assessment Values Across Hookerton, Lenoir County, North Carolina
Source: Ownwell
$41,983
$72,309
$102,634
Average Hookerton Assessed Value
$54,711
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 Hookerton, Lenoir County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28538 | $14,180 | $28,006 | $54,711 | $110,097 | $163,592 |
Source: Ownwell
Property Tax Bills Across Hookerton, Lenoir County, North Carolina
In Hookerton, located in Lenoir County, NC, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the home's market value. The property tax rate in Hookerton is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $54,711, homeowners can expect their tax bills to vary widely, ranging from the 25th percentile at $314 to the 90th percentile at $1,400. The tax bill is influenced by several factors, including the home's assessed value, local tax rates, and applicable exemptions. Homeowners in Hookerton benefit from relatively lower property taxes compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, but it also means that funding for local services may be more limited. Understanding how these factors interplay is crucial for homeowners to anticipate their annual property tax obligations.
Average Hookerton Tax Bill
$590
Average Lenoir County Tax Bill
$738
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hookerton, Lenoir County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28538 | $131 | $314 | $590 | $1,052 | $1,400 |
Source: Ownwell