Norlina, North Carolina Property Taxes
The median property tax rate in Norlina, NC is 1.12%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Norlina, the typical annual property tax bill reaches $672, which is significantly lower than the national median of $2,690. Property taxes in Norlina 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 Norlina'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 Norlina 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
Norlina, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$661
$614
Ownwell’s Norlina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norlina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norlina 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 Norlina, North Carolina
Property taxes in Norlina, NC, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Norlina is 1.12%, higher than the U.S. national median of 0.99%. Local government entities within Norlina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norlina 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 Norlina's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27563 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Norlina provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Norlina Tax Rate
1.12%
Average Warren County Tax Rate
0.98%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norlina, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27563 | 0.69% | 0.91% | 1.12% | 1.37% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Norlina, North Carolina
In Norlina, 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 Warren 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 Norlina, 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 Norlina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Norlina are both reported at $672, specifically in the 27563 zip code.
Average Norlina Assessed Value
$59,042
Average Warren County Assessed Value
$84,230
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Norlina, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27563 | $20,066 | $38,880 | $59,042 | $93,786 | $146,744 |
Source: Ownwell
Property Tax Bills Across Norlina, North Carolina
In Norlina, property tax bills are determined by assessing the market value of a home and then applying the local tax rate to that value. The median home price in Norlina is $59,042. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile tax bill at $429 and the 75th percentile reaching $976. For those at the higher end, the 90th percentile tax bill can be as much as $1,475. The tax rate in Norlina is influenced by the county's need to fund public services such as schools, infrastructure, and emergency services. This rate is applied uniformly, but the final bill can vary based on the assessed market value of the property. For homeowners, this means that higher property values result in higher tax bills, impacting their overall housing costs. Compared to the national median property tax rate of 0.99%, Norlina’s rates reflect the local economic conditions and funding requirements of Warren County.
Average Norlina Tax Bill
$672
Average Warren County Tax Bill
$857
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Norlina, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27563 | $214 | $429 | $672 | $976 | $1,475 |
Source: Ownwell