Pink Hill, Lenoir County, North Carolina Property Taxes
The median property tax rate in Pink Hill, NC is 0.98%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $68,170 in Pink Hill, the typical annual property tax bill is $678, which is notably less than the national median of $2,690. Property taxes in Pink Hill are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Pink Hill'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 Pink Hill 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
Pink Hill, Lenoir County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$668
$620
Ownwell’s PINK HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PINK HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PINK HILL 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 Pink Hill, Lenoir County, North Carolina
Property taxes in Pink Hill, 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 Pink Hill is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Pink Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pink Hill 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 Pink Hill's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28572 has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Pink Hill 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 Pink Hill Tax Rate
0.98%
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 Pink Hill, Lenoir County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28572 | 0.84% | 0.92% | 0.98% | 1.15% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Pink Hill, Lenoir County, North Carolina
In Pink Hill, 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 Pink Hill, 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 Pink Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 28572, with a median tax bill of $678.
Property Tax Assessment Values Across Pink Hill, Lenoir County, North Carolina
Source: Ownwell
$41,983
$72,309
$102,634
Average Pink Hill Assessed Value
$68,170
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 Pink Hill, Lenoir County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28572 | $16,010 | $34,420 | $68,170 | $110,662 | $151,722 |
Source: Ownwell
Property Tax Bills Across Pink Hill, Lenoir County, North Carolina
In Pink Hill, located in Lenoir County, NC, property tax bills are determined based on the assessed value of a home and the local property tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the tax bill. For example, with a median home price of $68,170, homeowners can expect varying tax bills. The 25th percentile tax bill is around $362, while the 75th percentile reaches $1,093, and the 90th percentile can go up to $1,508. These tax bills significantly impact homeowners by influencing their annual expenses. The median property tax rate in Pink Hill is relatively close to the national median property tax rate of 0.99%, making it a considerable factor in homeownership costs. Homeowners in the 28572 zip code experience a median tax bill of $678, which is consistent across the area. Understanding these calculations helps homeowners budget effectively and anticipate future financial obligations.
Average Pink Hill Tax Bill
$678
Average Lenoir County Tax Bill
$738
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Pink Hill, Lenoir County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28572 | $149 | $362 | $678 | $1,093 | $1,508 |
Source: Ownwell