Trinity, North Carolina Property Taxes
The median property tax rate in Trinity, NC is 0.72%, 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 Trinity at $187,245, the typical annual property tax bill amounts to $1,452, which is below the national median of $2,690. Property taxes in Trinity 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 Trinity'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 Trinity 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
Trinity, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,348
Ownwell’s Trinity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trinity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trinity 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 Trinity, North Carolina
Property taxes in Trinity, 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 Trinity is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Trinity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trinity 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 Trinity's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27370 has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Trinity provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trinity Tax Rate
0.72%
Average Randolph County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27370 | 0.62% | 0.67% | 0.72% | 0.82% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Trinity, North Carolina
In Trinity, 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 Randolph 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 Trinity, 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 Trinity helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Trinity is $1,452, with the highest median tax bill recorded in the 27370 zip code.
Average Trinity Assessed Value
$187,245
Average Randolph County Assessed Value
$167,245
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27370 | $74,150 | $130,925 | $187,245 | $261,888 | $404,485 |
Source: Ownwell
Property Tax Bills Across Trinity, North Carolina
In Trinity, located in Randolph County, NC, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and reflects the market value of the home. To calculate the tax bill, this assessed value is multiplied by the local tax rate. For instance, with a median home price of $187,245, homeowners can expect varying tax bills depending on their property's assessed value. Factors such as property location, size, and improvements play a significant role in determining the assessed value. In Trinity, the tax bills range widely. At the 25th percentile, the tax bill is approximately $910, while at the 75th percentile, it rises to about $2,051. At the higher end, the 90th percentile tax bill can reach up to $3,130. The highest and lowest median tax bills are both recorded at $1,452 in the 27370 zip code. These property taxes directly impact homeowners by influencing their annual financial obligations and potentially affecting property values.
Average Trinity Tax Bill
$1,452
Average Randolph County Tax Bill
$1,305
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Trinity, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27370 | $439 | $910 | $1,452 | $2,051 | $3,130 |
Source: Ownwell