Elizabeth City, North Carolina Property Taxes
The median property tax rate in Elizabeth City, NC, is 0.74%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $162,100 in Elizabeth City, the typical annual property tax bill amounts to $1,415, significantly below the national median of $2,690. Property taxes in Elizabeth City are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Elizabeth City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Elizabeth City or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elizabeth City, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,200
Ownwell’s Elizabeth City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elizabeth City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elizabeth 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 Elizabeth City, North Carolina
Property taxes in Elizabeth City, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elizabeth City is 0.74%, lower than the U.S. national median of 0.99%. Local government entities within Elizabeth City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elizabeth 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 Elizabeth City's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27909 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Elizabeth City provides valuable insights into the varying tax landscape across Pasquotank County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elizabeth City Tax Rate
0.74%
Average Pasquotank County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elizabeth City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27909 | 0.66% | 0.68% | 0.74% | 1.32% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Elizabeth City, North Carolina
In Elizabeth City, 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 Pasquotank 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. 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 Elizabeth City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27909 has the highest and lowest median tax bills, both at $1,415, compared to the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Elizabeth City, North Carolina
Source: Ownwell
$162,100
$162,100
$162,100
Average Elizabeth City Assessed Value
$162,100
Average Pasquotank County Assessed Value
$162,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elizabeth City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27909 | $53,300 | $102,400 | $162,100 | $237,000 | $297,940 |
Source: Ownwell
Property Tax Bills Across Elizabeth City, North Carolina
In Elizabeth City, property tax bills are calculated based on the assessed value of a homeowner’s property. The assessed value is determined by the Pasquotank County tax assessor and reflects the market value of the property. Homeowners in Elizabeth City can expect to pay a property tax rate that aligns with the county’s standards. For instance, the median home price in the area is $162,100, and the corresponding property tax bills can vary significantly. At the 25th percentile, tax bills are around $922, while at the 75th percentile, they increase to about $1892. The highest tax bills, at the 90th percentile, can reach up to $2657. The median tax bill in the area stands at $1415, which is higher than the national median property tax rate of 0.99%. These tax bills directly impact homeowners by influencing their annual housing costs, making it crucial for them to understand how their property’s assessed value and the county’s tax rate affect their overall financial planning.
Average Elizabeth City Tax Bill
$1,415
Average Pasquotank County Tax Bill
$1,415
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Elizabeth City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27909 | $587 | $922 | $1,415 | $1,892 | $2,657 |
Source: Ownwell