Elm City, Nash County, North Carolina Property Taxes
The median property tax rate in Elm City, NC is 0.84%, 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 Elm City at $171,500, the typical annual property tax bill amounts to $1,408, which is below the national median of $2,690. Property taxes in Elm City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Elm City'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 Elm City 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
Elm City, Nash County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,441
$1,337
Ownwell’s Elm City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elm City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elm City 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 Elm City, Nash County, North Carolina
Property taxes in Elm City, North Carolina, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Elm City is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Elm City set these rates annually, and they can vary across different neighborhoods. Each year, Elm City 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 Elm City's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27822 zip code has the highest median property tax rate of 0.84%, while the same zip code has the lowest median tax rate of 0.84%. Understanding how these cities compare with Elm City 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 Elm City Tax Rate
0.84%
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 Elm City, Nash County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27822 | 0.78% | 0.81% | 0.84% | 0.89% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Elm City, Nash County, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elm City, NC. 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 Elm City, 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 Elm City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Elm City are both $1,408, with the zip code being 27822.
Property Tax Assessment Values Across Elm City, Nash County, North Carolina
Source: Ownwell
$69,540
$120,520
$171,500
Average Elm City Assessed Value
$171,500
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 Elm City, Nash County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27822 | $61,532 | $106,920 | $171,500 | $242,750 | $323,846 |
Source: Ownwell
Property Tax Bills Across Elm City, Nash County, North Carolina
In Elm City, Nash County, NC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is based on the market value of the property, which is periodically evaluated by local authorities. Factors such as property size, location, and improvements can influence this value. For homeowners, this means that a median home priced at $171,500 will have its tax bill calculated based on the local tax rate applied to this assessed value. In Nash County, the property tax bills can vary significantly. For example, the 25th percentile tax bill is around $884, while the 75th percentile tax bill reaches up to $1,980, and the 90th percentile goes as high as $2,595. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. In Elm City, the highest and lowest median tax bills are both $1,408, indicating a relatively consistent tax environment within the area. This variability in tax bills affects homeowners differently based on their property's assessed value and the applicable tax rate.
Average Elm City Tax Bill
$1,408
Average Nash County Tax Bill
$784
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Elm City, Nash County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27822 | $560 | $884 | $1,408 | $1,980 | $2,595 |
Source: Ownwell