Newton Grove, North Carolina Property Taxes
The median property tax rate in Newton Grove, NC is 0.90%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $84,663, the typical annual property tax bill in Newton Grove is approximately $734, which is significantly below the national median of $2,690. Property taxes in Newton Grove are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Newton Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newton Grove 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
Newton Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$762
Ownwell’s Newton Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton Grove 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 Newton Grove, North Carolina
Property taxes in Newton Grove, North Carolina, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton Grove is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Newton Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton Grove 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. Understanding how Newton Grove's property tax rate compares to other areas 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 Newton Grove Tax Rate
0.90%
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 Newton Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28366 | 0.62% | 0.90% | 0.90% | 0.93% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Newton Grove, North Carolina
In Newton Grove, 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 Newton Grove, 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 Newton Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in this area is $84,663, with median tax bills ranging from $409 at the 25th percentile to $2,062 at the 90th percentile. The highest and lowest median tax bills are both $734 in zip code 28366.
Property Tax Assessment Values Across Newton Grove, North Carolina
Source: Ownwell
$57,254
$195,731
$334,207
Average Newton Grove Assessed Value
$84,663
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 Newton Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28366 | $30,970 | $49,691 | $84,663 | $143,653 | $230,317 |
Source: Ownwell
Property Tax Bills Across Newton Grove, North Carolina
In Newton Grove, located in Sampson County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate, set by local taxing authorities, is then applied to this assessed value. For example, with a median home price of $84,663, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including property characteristics, local tax rates, and any applicable exemptions or abatements. The tax bill can range significantly, as seen in the 25th percentile tax bill of $409 and the 75th percentile at $1,291. The 90th percentile tax bill can be as high as $2,062, reflecting the variability in property assessments and tax rates. For homeowners, understanding these factors is crucial, as property taxes are a significant part of homeownership costs. Compared to the national median property tax rate of 0.99%, assessing how local rates and home values impact your tax bill can help in financial planning and property investment decisions.
Average Newton Grove Tax Bill
$734
Average Sampson County Tax Bill
$790
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28366 | $244 | $409 | $734 | $1,291 | $2,062 |
Source: Ownwell