Danbury, North Carolina Property Taxes
The median property tax rate in Danbury, NC is 0.74%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Danbury at $113,800, the typical annual property tax bill amounts to $766, falling well below the national median of $2,690. Property taxes in Danbury are calculated based on the tax assessed value, which often lies below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Danbury'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 Danbury 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
Danbury, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$842
$781
Ownwell’s Danbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danbury 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 Danbury, North Carolina
Property taxes in Danbury, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danbury is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Danbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danbury 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 Danbury's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27016 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Danbury provides valuable insights into the varying tax landscape across Stokes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danbury Tax Rate
0.74%
Average Stokes County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27016 | 0.42% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Danbury, North Carolina
In Danbury, 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 Stokes 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 Danbury, 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 Danbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $766, found in zip code 27016.
Average Danbury Assessed Value
$113,800
Average Stokes County Assessed Value
$130,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27016 | $29,900 | $68,050 | $113,800 | $166,850 | $244,020 |
Source: Ownwell
Property Tax Bills Across Danbury, North Carolina
In Danbury, located in Stokes County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and represents the market value of the property. Homeowners in Danbury experience property tax bills that vary widely depending on the value of their homes. For example, the 25th percentile tax bill is $444, while the 75th percentile tax bill is $1151, and the 90th percentile tax bill can reach up to $1611. These tax bills are influenced by factors such as property size, location, and any applicable exemptions. Comparatively, the median home price in Danbury is $113,800, which is relatively modest. This can be contrasted with the national median property tax rate of 0.99%, highlighting how local rates and property values impact overall tax obligations. For homeowners, understanding these factors is crucial for financial planning and anticipating annual property tax expenses.
Average Danbury Tax Bill
$766
Average Stokes County Tax Bill
$951
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Danbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27016 | $219 | $444 | $766 | $1,151 | $1,611 |
Source: Ownwell