Chocowinity, North Carolina Property Taxes
The median property tax rate in Chocowinity, NC is 0.97%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $104,116 in Chocowinity, the typical annual property tax bill is $1,004, which is lower than the national median of $2,690. Property taxes in Chocowinity are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Chocowinity'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 Chocowinity or another part of Pitt County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chocowinity, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,010
$937
Ownwell’s Chocowinity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chocowinity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chocowinity 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 Chocowinity, North Carolina
Property taxes in Chocowinity, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chocowinity is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Chocowinity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chocowinity 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 Chocowinity's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27817 has the median property tax rate of 0.97%. Understanding how these areas compare with Chocowinity provides valuable insights into the varying tax landscape across Pitt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chocowinity Tax Rate
0.97%
Average Pitt County Tax Rate
1.17%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chocowinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27817 | 0.94% | 0.94% | 0.97% | 1.00% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Chocowinity, North Carolina
In Chocowinity, 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 Pitt 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 Chocowinity, 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 Chocowinity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $104,116, with the highest and lowest median tax bills both recorded at $1,004 in the zip code 27817.
Property Tax Assessment Values Across Chocowinity, North Carolina
Source: Ownwell
$34,934
$102,645
$170,355
Average Chocowinity Assessed Value
$104,116
Average Pitt County Assessed Value
$124,775
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chocowinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27817 | $69,987 | $81,462 | $104,116 | $123,217 | $128,293 |
Source: Ownwell
Property Tax Bills Across Chocowinity, North Carolina
Property tax bills in Chocowinity, NC, 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 is a percentage of the property's market value. Homeowners in Chocowinity can expect their tax bills to vary depending on their property’s assessed value and the local tax rate set by Pitt County. Factors influencing the tax bill include the property's assessed value and any applicable exemptions or deductions. For instance, a median home price in Chocowinity is $104,116, and the tax bills typically range from $814 at the 25th percentile to $1,207 at the 90th percentile. This range indicates that while some homeowners may pay less, others could see higher tax bills based on their property’s assessed value. Compared to the national median property tax rate of 0.99%, Chocowinity homeowners experience a varied tax burden that directly impacts their financial planning and housing costs. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Chocowinity Tax Bill
$1,004
Average Pitt County Tax Bill
$1,320
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Chocowinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27817 | $718 | $814 | $1,004 | $1,164 | $1,207 |
Source: Ownwell