Clayton, North Carolina Property Taxes
The median property tax rate in Clayton, NC is 0.79%, which is lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Clayton at $229,426, the typical annual property tax bill amounts to $1,791, which is below the national median of $2,690. Property taxes in Clayton are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Clayton'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 Clayton or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clayton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,812
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, North Carolina
Property taxes in Clayton, 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 Clayton is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27520 has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Clayton provides valuable insights into the varying tax landscape across Wake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
0.79%
Average Wake County Tax Rate
1.10%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27520 | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, North Carolina
In Clayton, 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 Wake 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 Clayton, 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27520, with a median tax bill of $1,791.
Property Tax Assessment Values Across Clayton, North Carolina
Source: Ownwell
$174,058
$394,571
$615,084
Average Clayton Assessed Value
$229,426
Average Wake County Assessed Value
$302,078
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27520 | $157,271 | $183,384 | $229,426 | $282,736 | $336,030 |
Source: Ownwell
Property Tax Bills Across Clayton, North Carolina
In Clayton, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by the county. For homeowners in Clayton, the property tax rate is a crucial factor in determining their annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. In Clayton, the median home price is $229,426, with property tax bills varying significantly. The 25th percentile tax bill is $1,427, while the 75th percentile reaches $2,215, and the 90th percentile can go up to $2,613. These property taxes can have a substantial impact on homeowners, affecting their overall housing costs and financial planning. Comparing this to the national median property tax rate of 0.99%, homeowners in Clayton may find their tax bills to be relatively in line, depending on their property's assessed value and specific circumstances.
Average Clayton Tax Bill
$1,791
Average Wake County Tax Bill
$3,098
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27520 | $1,117 | $1,427 | $1,791 | $2,215 | $2,613 |
Source: Ownwell