Fremont, North Carolina Property Taxes
The median property tax rate in Fremont, NC is 0.87%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Fremont, the typical annual property tax bill reaches $573, which is significantly below the national median of $2,690. Property taxes in Fremont are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fremont'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 Fremont or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fremont, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$473
$439
Ownwell’s Fremont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Fremont, North Carolina
Property taxes in Fremont, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 0.87%, lower than the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27830 zip code has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Fremont 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 Fremont Tax Rate
0.87%
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 Fremont, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27830 | 0.81% | 0.82% | 0.87% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fremont, North Carolina. 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 Fremont, 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 Fremont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 27830, with a bill of $573.00.
Average Fremont Assessed Value
$54,365
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 Fremont, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27830 | $3,750 | $17,882 | $54,365 | $104,258 | $189,551 |
Source: Ownwell
Property Tax Bills Across Fremont, North Carolina
In Fremont, 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 reflects the market value of the property. Homeowners in Fremont can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is $192, while the 75th percentile reaches up to $1,133. The 90th percentile tax bill can be as high as $1,951. Factors influencing these amounts include the home's assessed value and any applicable exemptions or deductions. The median home price in Fremont is $54,365, which provides a baseline for calculating tax obligations. Comparatively, Fremont's property tax rates can be seen as moderate when juxtaposed with the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the area. Understanding these factors can help homeowners anticipate their annual tax responsibilities and plan their finances accordingly.
Average Fremont Tax Bill
$573
Average Wayne County Tax Bill
$703
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27830 | $65 | $192 | $573 | $1,133 | $1,951 |
Source: Ownwell