Bailey, Nash County, North Carolina Property Taxes
The median property tax rate in Bailey, NC is 0.87%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Bailey at $105,845, the typical annual property tax bill is $944, which is below the national median of $2,690. Property taxes in Bailey are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bailey'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 Bailey 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
Bailey, Nash County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$921
$855
Ownwell’s Bailey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bailey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bailey 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 Bailey, Nash County, North Carolina
Property taxes in Bailey, 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 Bailey is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Bailey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bailey 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 Bailey's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27807 zip code has the highest median property tax rate of 0.87%, while the 27807 zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Bailey provides valuable insights into the varying tax landscape across Nash County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bailey Tax Rate
0.87%
Average Nash County Tax Rate
0.72%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bailey, Nash County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27807 | 0.74% | 0.81% | 0.87% | 0.99% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Bailey, Nash County, North Carolina
In Bailey, 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 Nash 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 Bailey, 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. The median home price in Bailey is $105,845, with tax bills ranging from $646 at the 25th percentile to $1,991 at the 90th percentile. The zip code 27807 has the highest and lowest median tax bill of $944. 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 Bailey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bailey, Nash County, North Carolina
Source: Ownwell
$69,540
$120,520
$171,500
Average Bailey Assessed Value
$105,845
Average Nash County Assessed Value
$102,010
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bailey, Nash County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27807 | $43,235 | $68,542 | $105,845 | $175,540 | $243,650 |
Source: Ownwell
Property Tax Bills Across Bailey, Nash County, North Carolina
In Bailey, located in Nash County, NC, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Bailey pay a median property tax rate of 0.89%, which is slightly below the national median of 0.99%. A homeowner with a median home price of $105,845 can expect a yearly tax bill of approximately $944, which represents the highest and lowest median tax bill in the 27807 zip code. The tax bill can vary significantly; for instance, those in the 25th percentile pay around $646, while those in the 75th percentile pay about $1,458. For properties in the 90th percentile, the tax bill can reach up to $1,991. These property taxes fund local services such as schools, infrastructure, and emergency services, directly impacting the quality of life and property values in Bailey. Homeowners should be aware of these factors as they significantly influence their annual financial obligations.
Average Bailey Tax Bill
$944
Average Nash County Tax Bill
$784
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Bailey, Nash County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27807 | $431 | $646 | $944 | $1,458 | $1,991 |
Source: Ownwell