Eureka, North Carolina Property Taxes
The median property tax rate in Eureka, NC is 1.49%, 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 Eureka at $117,580, the typical annual property tax bill reaches $1,755, exceeding the national median of $2,690. Property taxes in Eureka 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 Eureka'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 Eureka 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
Eureka, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,752
$1,626
Ownwell’s Eureka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eureka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eureka 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 Eureka, North Carolina
Property taxes in Eureka, 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 Eureka is 1.49%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Eureka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eureka 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 Eureka's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27830 has the highest median property tax rate of 1.49%, while the zip code 27830 also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Eureka provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eureka Tax Rate
1.49%
Average Wayne County Tax Rate
0.85%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eureka, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27830 | 1.49% | 1.49% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Eureka, North Carolina
In Eureka, 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 Wayne 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 Eureka, 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 Eureka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Eureka are both $1,755, found in the zip code 27830.
Average Eureka Assessed Value
$117,580
Average Wayne County Assessed Value
$66,340
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eureka, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27830 | $117,580 | $117,580 | $117,580 | $117,580 | $117,580 |
Source: Ownwell
Property Tax Bills Across Eureka, North Carolina
In Eureka, property tax bills are calculated based on the assessed value of a home, which is determined by the Wayne County tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For example, with a median home price of $117,580, homeowners in Eureka can expect a tax bill around $1,755, which is consistent across various percentiles including the 25th, 75th, and 90th. This amount is significantly higher than the national median property tax rate of 0.99%, indicating a relatively higher tax burden for residents. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value, thus affecting the tax bill. Homeowners should be aware of these factors as they can lead to fluctuations in their annual tax obligations.
Average Eureka Tax Bill
$1,755
Average Wayne County Tax Bill
$703
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Eureka, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27830 | $1,755 | $1,755 | $1,755 | $1,755 | $1,755 |
Source: Ownwell