Creswell, Washington County, North Carolina Property Taxes
The median property tax rate in Creswell, NC is 1.25%, significantly higher than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Creswell at $72,350, the typical annual property tax bill is $930, surpassing the national median of $2,690. Property taxes in Creswell are calculated based on the tax assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural properties. Understanding Creswell'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 Creswell or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Creswell, Washington County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$904
$839
Ownwell’s Creswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creswell 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 Creswell, Washington County, North Carolina
Property taxes in Creswell, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Creswell is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Creswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creswell 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 Creswell's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27928 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Creswell provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Creswell Tax Rate
1.25%
Average Washington County Tax Rate
1.05%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creswell, Washington County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27928 | 0.84% | 1.06% | 1.25% | 1.55% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Creswell, Washington County, North Carolina
In Creswell, 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 Washington 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 Creswell, 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 Creswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27928 has the highest and lowest median tax bill, both at $930, indicating a uniform tax burden across the area.
Property Tax Assessment Values Across Creswell, Washington County, North Carolina
Source: Ownwell
$61,300
$68,800
$76,300
Average Creswell Assessed Value
$72,350
Average Washington County Assessed Value
$66,050
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Creswell, Washington County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27928 | $25,160 | $44,322 | $72,350 | $113,875 | $168,340 |
Source: Ownwell
Property Tax Bills Across Creswell, Washington County, North Carolina
In Creswell, Washington County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $72,350, homeowners in Creswell can expect their property tax bills to vary. At the 25th percentile, the tax bill is approximately $666, while at the 75th percentile, it rises to around $1306. For those at the 90th percentile, the tax bill can reach up to $1697. Compared to the national median property tax rate of 0.99%, these figures provide a clear picture of the local tax landscape. These property taxes are crucial for funding essential public services such as schools, emergency services, and infrastructure maintenance. Consequently, understanding how property tax bills are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Creswell Tax Bill
$930
Average Washington County Tax Bill
$781
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Creswell, Washington County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27928 | $420 | $666 | $930 | $1,306 | $1,697 |
Source: Ownwell