Oriental, North Carolina Property Taxes
The median property tax rate in Oriental, NC is 0.68%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Oriental at $226,386, the typical annual property tax bill is $1,664, which is well below the national median of $2,690. Property taxes in Oriental are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Oriental'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 Oriental or another part of Pamlico County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oriental, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,539
Ownwell’s Oriental Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oriental with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oriental 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 Oriental, North Carolina
Property taxes in Oriental, 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 Oriental is 0.68%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Oriental set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oriental 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 Oriental's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28571 has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Oriental provides valuable insights into the varying tax landscape across Pamlico County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oriental Tax Rate
0.68%
Average Pamlico County Tax Rate
0.69%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oriental, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28571 | 0.65% | 0.66% | 0.68% | 0.87% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Oriental, North Carolina
In Oriental, 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 Pamlico 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 Oriental, 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 Oriental 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 28571, with a median tax bill of $1,664.
Average Oriental Assessed Value
$226,386
Average Pamlico County Assessed Value
$145,305
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oriental, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28571 | $66,630 | $134,947 | $226,386 | $332,898 | $455,370 |
Source: Ownwell
Property Tax Bills Across Oriental, North Carolina
In Oriental, Pamlico County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors, who evaluate the property's market value. Homeowners in Oriental can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $974, while the 75th percentile tax bill can reach up to $2,466. At the 90th percentile, tax bills can be as high as $3,467. The median home price in Oriental stands at $226,386, and the median tax bill in the area is $1,664, which is higher than the national median property tax rate of 0.99%. Factors such as property improvements, market conditions, and local tax rates play a crucial role in determining the final tax bill. These taxes directly impact homeowners by influencing their annual expenses and potentially affecting their decisions on property improvements and investments.
Average Oriental Tax Bill
$1,664
Average Pamlico County Tax Bill
$1,045
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Oriental, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28571 | $455 | $974 | $1,664 | $2,466 | $3,467 |
Source: Ownwell