Toast, North Carolina Property Taxes
The median property tax rate in TOAST, NC is 0.55%, 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 TOAST, the typical annual property tax bill is $393, much less than the national median of $2,690. Property taxes in TOAST are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding TOAST'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 TOAST or another part of Surry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Toast, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$437
$405
Ownwell’s TOAST Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in TOAST. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in TOAST to give you a clear picture of your property tax bill. This valuable resource helps you gauge potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Surry County, serves as the basis for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Toast, North Carolina
Property taxes in Toast, 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 Toast is 0.55%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Toast set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toast 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 Toast's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27049 zip code has the highest median property tax rate of 0.55%, while the same 27049 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Toast provides valuable insights into the varying tax landscape across Surry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Toast Tax Rate
0.55%
Average Surry County Tax Rate
0.55%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toast, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27049 | 0.55% | 0.55% | 0.55% | 0.56% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Toast, North Carolina
In TOAST, 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 Surry 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 TOAST, 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. In TOAST, the median home price is $79,385, with the 25th percentile tax bill at $267 and the 75th percentile tax bill at $544. The highest and lowest median tax bills are both $393, found in the 27049 zip code. Being aware of these valuation processes in TOAST helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Toast Assessed Value
$79,385
Average Surry County Assessed Value
$114,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Toast, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27049 | $44,044 | $48,362 | $79,385 | $110,730 | $144,276 |
Source: Ownwell
Property Tax Bills Across Toast, North Carolina
In TOAST, located in Surry County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is used as a basis for calculating the property tax owed. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in TOAST is $79,385. Homeowners in the 25th percentile can expect a tax bill around $267, while those in the 75th percentile might see a bill closer to $544. The 90th percentile tax bill reaches approximately $719. These tax bills are influenced by factors such as property improvements, changes in the local tax rate, and market conditions. Compared to the national median property tax rate of 0.99%, TOAST homeowners experience a relatively moderate tax burden. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Toast Tax Bill
$393
Average Surry County Tax Bill
$544
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Toast, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27049 | $243 | $267 | $393 | $544 | $719 |
Source: Ownwell