Columbia, North Carolina Property Taxes
The median property tax rate in Columbia, NC is 1.24%, considerably higher than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Columbia at $55,964, the typical annual property tax bill reaches $801, still below the national median of $2,690. Property taxes in Columbia 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 Columbia'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 Columbia or another part of Tyrrell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Columbia, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$694
$644
Ownwell’s Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Columbia 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 Columbia, North Carolina
Property taxes in Columbia, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 1.24%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27925 zip code has both the highest and lowest median property tax rate of 1.24%. Understanding how these cities compare with Columbia provides valuable insights into the varying tax landscape across Tyrrell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
1.24%
Average Tyrrell County Tax Rate
1.22%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27925 | 0.94% | 0.95% | 1.24% | 1.67% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Columbia, NC. 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 Tyrrell 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 Columbia, 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 Columbia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Columbia is found in zip code 27925, with a value of $801.00. The lowest median tax bill is also in zip code 27925, reflecting the uniformity in property tax bills within the area.
Average Columbia Assessed Value
$55,964
Average Tyrrell County Assessed Value
$54,954
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27925 | $9,689 | $22,273 | $55,964 | $105,142 | $193,649 |
Source: Ownwell
Property Tax Bills Across Columbia, North Carolina
In Columbia, Tyrrell County, NC, property tax bills are determined based on the assessed value of your home, which is influenced by various factors such as the property's location, size, and condition. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $55,964, homeowners can expect property tax bills that vary significantly. The 25th percentile tax bill is around $439, while the 75th percentile tax bill reaches $1,304. At the higher end, the 90th percentile tax bill can be as much as $2,183. These property tax bills are crucial for homeowners as they directly impact monthly mortgage payments and overall housing affordability. In Tyrrell County, the median property tax bill is $801, which is lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more accessible and affordable for residents in Columbia.
Average Columbia Tax Bill
$801
Average Tyrrell County Tax Bill
$781
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27925 | $152 | $439 | $801 | $1,304 | $2,183 |
Source: Ownwell