Vance County Property Taxes
The median property tax rate in Vance County is 1.16%, which is significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Vance County, the typical annual property tax bill reaches $757, which is notably lower than the national median of $2,690. Property taxes in Vance County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Vance County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Henderson or another part of Vance County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vance County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$732
$679
Ownwell’s Vance County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Vance County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Vance County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Vance County, North Carolina
Property taxes in Vance County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Vance County is 1.16%, which is higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Vance County set these rates annually, and they can vary significantly between different areas within the county. Each year, Vance County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Vance County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Middleburg has one of the higher property tax rates in North Carolina at 1.55%, while the city of Manson boasts one of the lowest at 1.02%. Analyzing how Vance County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Vance County Tax Rate
1.16%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vance County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bullock | 0.67% | 0.98% | 1.11% | 1.22% | 1.48% |
| Henderson | 0.98% | 1.02% | 1.19% | 1.74% | 2.11% |
| Kittrell | 0.67% | 0.98% | 1.06% | 1.18% | 1.36% |
| Manson | 0.84% | 0.98% | 1.02% | 1.14% | 1.23% |
| Middleburg | 1.35% | 1.46% | 1.55% | 1.63% | 1.71% |
| Norlina | 0.54% | 0.96% | 1.04% | 1.17% | 1.73% |
| Oxford | 0.57% | 0.98% | 1.04% | 1.12% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Vance County, North Carolina
In Vance County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Vance County Appraisal District. The assessed value, however, 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. Assessment notices in Vance County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Vance County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Vance County, the city with the highest median tax bill is Manson at $971, while Bullock has the lowest at $536. The 25th percentile tax bill is $469, the 75th percentile is $1329, and the 90th percentile is $2130.
Property Tax Assessment Values Across Vance County, North Carolina
Source: Ownwell
$40,378
$70,216
$100,054
Average Vance County Assessed Value
$63,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vance County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bullock | $11,985 | $23,847 | $49,379 | $70,765 | $84,368 |
| Henderson | $15,368 | $33,068 | $61,392 | $112,600 | $181,798 |
| Kittrell | $21,056 | $47,238 | $72,369 | $127,181 | $195,204 |
| Manson | $31,790 | $54,176 | $94,374 | $207,605 | $344,152 |
| Middleburg | $35,325 | $43,894 | $58,806 | $82,756 | $114,471 |
| Norlina | $32,052 | $55,948 | $100,054 | $139,260 | $187,118 |
| Oxford | $39,453 | $61,348 | $87,400 | $151,549 | $217,348 |
Source: Ownwell
Property Tax Bills Across Vance County, North Carolina
In Vance County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Vance County experience a range of tax bills depending on their property's value and location. For instance, the median home price in the county is $63,100. Tax bills can vary significantly, with the 25th percentile at $469, the 75th percentile at $1329, and the 90th percentile reaching up to $2130. The city of Manson has the highest median tax bill at $971, while Bullock has the lowest at $536. These variations highlight how local factors and property values influence the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Vance County's rates can be seen as relatively moderate, offering some relief to homeowners in this region.
Average Vance County Tax Bill
$757
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690