Grifton, North Carolina Property Taxes
The median property tax rate in Grifton, NC is 0.90%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Grifton at $84,321, the typical annual property tax bill amounts to $777, which is significantly lower than the national median of $2,690. Property taxes in Grifton are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Grifton'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 Grifton or another part of Pitt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grifton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$759
$704
Ownwell’s Grifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grifton 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 Grifton, North Carolina
Property taxes in Grifton, 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 Grifton is 0.90%, which is below the U.S. national median of 0.99%. Local government entities within Grifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grifton 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 Grifton's effective property tax rate to other areas in Pitt County and the national median. For comparison, the zip code 28530 has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Grifton 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 Grifton Tax Rate
0.90%
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 Grifton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28530 | 0.74% | 0.84% | 0.90% | 1.00% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Grifton, North Carolina
In Grifton, 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 Grifton, 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. With a median home price of $84,321, the tax bill for the 25th percentile is $482, while the 75th percentile tax bill is $1,055. The highest median tax bill is $777, found in the 28530 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Grifton Assessed Value
$84,321
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 Grifton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28530 | $27,021 | $52,208 | $84,321 | $124,045 | $170,091 |
Source: Ownwell
Property Tax Bills Across Grifton, North Carolina
In Grifton, Pitt County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Grifton face a median property tax rate of 0.92%, slightly below the national median of 0.99%. For a home with a median price of $84,321, the tax bill can vary widely. The 25th percentile tax bill is around $482, while the 75th percentile tax bill is approximately $1055. At the higher end, the 90th percentile tax bill reaches $1471. These figures illustrate the range of property tax obligations that homeowners in Grifton might encounter, depending on their property's assessed value and applicable exemptions or deductions. Understanding these factors can help homeowners anticipate their annual tax obligations, plan their budgets accordingly, and potentially seek appeals or exemptions to reduce their tax burden.
Average Grifton Tax Bill
$777
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 Grifton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28530 | $256 | $482 | $777 | $1,055 | $1,471 |
Source: Ownwell