Gumberry, North Carolina Property Taxes
The median property tax rate in Gumberry, NC is 2.49%, significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Gumberry, the typical annual property tax bill reaches $332, which is notably lower than the national median of $2,690. Property taxes in Gumberry are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gumberry'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 Gumberry 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
Gumberry, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$332
Ownwell’s Gumberry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gumberry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gumberry 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 Gumberry, North Carolina
Property taxes in Gumberry, North Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Gumberry is 0.82%, which is lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Gumberry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gumberry 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 Gumberry's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27831 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Gumberry provides valuable insights into the varying tax landscape across Northampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gumberry Tax Rate
2.49%
Average Northampton County Tax Rate
1.04%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gumberry, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27831 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Gumberry, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gumberry, 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 Northampton 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 Gumberry, 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 Gumberry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27831, with a value of $332, and the lowest median tax bill is also in zip code 27831, at $332.
Property Tax Assessment Values Across Gumberry, North Carolina
Source: Ownwell
$13,345
$187,955
$362,565
Average Gumberry Assessed Value
$13,345
Average Northampton County Assessed Value
$67,893
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gumberry, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27831 | $13,345 | $13,345 | $13,345 | $13,345 | $13,345 |
Source: Ownwell
Property Tax Bills Across Gumberry, North Carolina
In Gumberry, Northampton County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the market value of your property. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. For instance, with a median home price of $13,345, homeowners in Gumberry see tax bills around $332, which is consistent across various percentiles. This uniformity suggests a stable tax environment, although it is notably lower than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence your tax bill. For homeowners, understanding these elements is crucial as property taxes are a significant annual expense. Lower property tax rates can make Gumberry an attractive place for potential buyers, offering affordability without compromising on essential services funded by these taxes.
Average Gumberry Tax Bill
$332
Average Northampton County Tax Bill
$808
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Gumberry, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27831 | $332 | $332 | $332 | $332 | $332 |
Source: Ownwell