King, North Carolina Property Taxes
The median property tax rate in King, NC is 0.74%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in King, the typical annual property tax bill reaches $1,249, which is well below the national median of $2,690. Property taxes in King are calculated based on the tax assessed value, often falling below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding King'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 King 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
King, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,089
$1,010
Ownwell's King Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in King with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in King to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property's assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across King, North Carolina
Property taxes in King, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in King is 0.74%, significantly lower than the U.S. national median of 0.99%. Local government entities within King set these rates annually, and they can vary significantly across different neighborhoods. Each year, King 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 these cities compare with King 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 King 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 King, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27021 | 0.74% | 0.74% | 0.74% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across King, North Carolina
In King, 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 King, 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 King helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in King is $1249 in the 27021 zip code, while the lowest median tax bill is also $1249 in the same zip code.
Average King Assessed Value
$147,100
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 King, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27021 | $78,800 | $108,900 | $147,100 | $205,575 | $299,460 |
Source: Ownwell
Property Tax Bills Across King, North Carolina
In King, located in Stokes County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $147,100, homeowners can expect varying tax bills across different percentiles. The 25th percentile tax bill is around $809, while the 75th percentile reaches approximately $1888, and the 90th percentile can go up to $2728. Several factors influence these tax bills, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, homeowners in King may find their taxes relatively manageable. However, the financial impact varies, influencing household budgets and potentially affecting decisions on homeownership and property investments. Understanding these factors helps homeowners plan better for their annual tax obligations.
Average King Tax Bill
$1,249
Average Stokes County Tax Bill
$951
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across King, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27021 | $537 | $809 | $1,249 | $1,888 | $2,728 |
Source: Ownwell