Washington, North Carolina Property Taxes
The median property tax rate in Washington, NC is 0.84%, slightly higher than the state median of 0.82% but below the national median of 0.99%. With the median home value in Washington at $42,494, the typical annual property tax bill amounts to $423, which is significantly lower than the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Washington'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 Washington 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
Washington, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$357
$331
Ownwell’s Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, North Carolina
Property taxes in Washington, 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 Washington is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27889 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Washington 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 Washington Tax Rate
0.84%
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 Washington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27889 | 0.79% | 0.79% | 0.84% | 0.98% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Washington, North Carolina
In Washington, 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $423 in the zip code 27889, while the lowest median tax bill is also $423 in the same zip code.
Property Tax Assessment Values Across Washington, North Carolina
Source: Ownwell
$34,934
$102,645
$170,355
Average Washington Assessed Value
$42,494
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 Washington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27889 | $15,000 | $15,000 | $42,494 | $78,156 | $140,218 |
Source: Ownwell
Property Tax Bills Across Washington, North Carolina
In WASHINGTON, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $42,494. To calculate the property tax bill, the assessed value is multiplied by the local property tax rate. Factors such as property improvements, market conditions, and neighborhood changes can influence the assessed value. Homeowners in WASHINGTON can expect their property tax bills to vary significantly. For instance, at the 25th percentile, the tax bill is $118, while at the 75th percentile, it rises to $725. The 90th percentile sees tax bills reaching as high as $1178. Despite these variations, the highest and lowest median tax bills in the area are both $423, which is considerably lower than the national median property tax rate of 0.99%. This relatively low property tax burden can make homeownership more affordable in WASHINGTON, potentially attracting new residents and encouraging current homeowners to invest in their properties.
Average Washington Tax Bill
$423
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 Washington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27889 | $118 | $118 | $423 | $725 | $1,178 |
Source: Ownwell