Wingate, North Carolina Property Taxes
The median property tax rate in Wingate, NC is 0.66%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Wingate at $181,300, the typical annual property tax bill reaches $1,267, well below the national median of $2,690. Property taxes in Wingate are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wingate'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 Wingate 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
Wingate, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,197
$1,110
Ownwell’s Wingate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wingate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wingate 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 Wingate, North Carolina
Property taxes in Wingate, 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 Wingate is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Wingate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wingate 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 Wingate's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28174 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Wingate provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wingate Tax Rate
0.66%
Average Union County Tax Rate
0.67%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wingate, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28174 | 0.58% | 0.66% | 0.66% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Wingate, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wingate, North Carolina. 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 Union 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 Wingate, 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. The median home price in Wingate is $181,300, with the 25th percentile tax bill at $833 and the 75th percentile tax bill at $1,844. The highest and lowest median tax bills in Wingate are both $1,267, found in the 28174 zip code. By understanding 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 Wingate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Wingate, North Carolina
Source: Ownwell
$105,150
$356,825
$608,500
Average Wingate Assessed Value
$181,300
Average Union County Assessed Value
$277,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wingate, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28174 | $67,670 | $129,375 | $181,300 | $225,200 | $301,880 |
Source: Ownwell
Property Tax Bills Across Wingate, North Carolina
In Wingate, Union County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $181,300, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. The tax bill in Wingate varies significantly, with the 25th percentile at $833 and the 75th percentile at $1,844. The 90th percentile tax bill can go up to $2,212, indicating a wide range of property values and assessments within the area. Homeowners in the zip code 28174, which covers Wingate, have a median tax bill of $1,267, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Understanding how these taxes are calculated can help homeowners budget accordingly and potentially explore appeal options if they believe their property has been over-assessed.
Average Wingate Tax Bill
$1,267
Average Union County Tax Bill
$2,194
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Wingate, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28174 | $407 | $833 | $1,267 | $1,844 | $2,212 |
Source: Ownwell