Topton, North Carolina Property Taxes
The median property tax rate in Topton, NC is 0.36%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $278,635 in Topton, the typical annual property tax bill amounts to $994, well below the national median of $2,690. Property taxes in Topton are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Topton'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 Topton or another part of Macon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Topton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$1,003
$931
Ownwell’s Topton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Topton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Topton 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 Topton, North Carolina
Property taxes in Topton, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Topton is 0.36%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Topton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Topton 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 Topton's effective property tax rate to other counties in North Carolina and the national median. Understanding how these cities compare with Topton provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Topton Tax Rate
0.36%
Average Macon County Tax Rate
0.38%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | 0.33% | 0.34% | 0.36% | 0.39% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Topton, North Carolina
In Topton, 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 Macon 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 Topton, 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 Topton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 28781, both at $994.
Average Topton Assessed Value
$278,635
Average Macon County Assessed Value
$263,040
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | $112,002 | $172,442 | $278,635 | $436,880 | $718,568 |
Source: Ownwell
Property Tax Bills Across Topton, North Carolina
In Topton, located in Macon County, NC, property tax bills are determined by assessing the value of a homeowner's property and applying the local tax rate. The assessed value is typically a percentage of the property's market value. For instance, with a median home price of $278,635, the property tax bill can vary significantly based on the property's assessed value and the specific tax rate applied. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Topton can expect to see tax bills ranging from the 25th percentile at $633 to the 75th percentile at $1,515, with the 90th percentile reaching up to $2,399. These tax bills impact homeowners by affecting their annual financial planning and overall cost of homeownership. The highest and lowest median tax bills in Topton both stand at $994, which is comparatively lower than the national median property tax rate of 0.99%. This makes Topton an attractive location for homeowners seeking lower property tax rates.
Average Topton Tax Bill
$994
Average Macon County Tax Bill
$945
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | $430 | $633 | $994 | $1,515 | $2,399 |
Source: Ownwell