Godwin, North Carolina Property Taxes
The median property tax rate in Godwin, NC is 0.93%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Godwin, the typical annual property tax bill reaches $862, which is significantly below the national median of $2,690. Property taxes in Godwin 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 Godwin'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 Godwin 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
Godwin, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$958
$889
Ownwell’s Godwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Godwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Godwin 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 Godwin, North Carolina
Property taxes in Godwin, 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 Godwin is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Godwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Godwin 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 Godwin's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28344 has both the highest and lowest median property tax rate of 0.93%, reflecting uniformity in tax rates across the area. Understanding how these cities compare with Godwin provides valuable insights into the varying tax landscape across Sampson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Godwin Tax Rate
0.93%
Average Sampson County Tax Rate
0.92%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Godwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28344 | 0.79% | 0.92% | 0.92% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Godwin, North Carolina
In Godwin, 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 Sampson 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 Godwin, 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 Godwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $862, found in zip code 28344, which also has the lowest median tax bill at $862.
Average Godwin Assessed Value
$103,000
Average Sampson County Assessed Value
$85,659
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Godwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28344 | $36,544 | $55,442 | $103,000 | $191,588 | $250,914 |
Source: Ownwell
Property Tax Bills Across Godwin, North Carolina
In Godwin, NC, within Sampson County, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Godwin is $103,000. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, the tax bill at the 25th percentile is $485, while at the 75th percentile, it rises to $1,611. The tax bill at the 90th percentile can reach up to $2,160, indicating a significant variation depending on property values and specific assessments. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. Homeowners in Godwin might find their property tax bills higher or lower based on these assessments. Compared to the national median property tax rate of 0.99%, Godwin's rates reflect the local economic conditions and property values. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Godwin Tax Bill
$862
Average Sampson County Tax Bill
$790
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Godwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28344 | $315 | $485 | $862 | $1,611 | $2,160 |
Source: Ownwell