Goldsboro, North Carolina Property Taxes
The median property tax rate in Goldsboro, 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 a median home value of $78,435, the typical annual property tax bill in Goldsboro is $941, which is significantly below the national median of $2,690. Property taxes in Goldsboro are calculated based on the assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Goldsboro'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 Goldsboro or another part of Wayne County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Goldsboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$682
$633
Ownwell’s Goldsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goldsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goldsboro 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 Goldsboro, North Carolina
Property taxes in Goldsboro, 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 Goldsboro is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Goldsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goldsboro 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 Goldsboro's effective property tax rate to other areas in Wayne County and the national median. For comparison, the 27531 zip code has the highest median property tax rate of 1.47%, while the 27534 zip code has the lowest median tax rate of 0.87%. Understanding how these areas compare with Goldsboro 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 Goldsboro 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 Goldsboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27530 | 0.80% | 0.82% | 0.87% | 1.47% | 1.47% |
| 27531 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
| 27534 | 0.80% | 0.82% | 0.87% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Goldsboro, North Carolina
In Goldsboro, 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 Goldsboro, 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 Goldsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Goldsboro, the highest median tax bill is $1081 in the 27534 zip code, while the lowest is $834 in the 27530 zip code.
Property Tax Assessment Values Across Goldsboro, North Carolina
Source: Ownwell
$21,315
$69,448
$117,580
Average Goldsboro Assessed Value
$78,435
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 Goldsboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27530 | $2,500 | $18,000 | $67,630 | $133,770 | $209,380 |
| 27531 | $70,050 | $70,050 | $70,050 | $70,050 | $70,050 |
| 27534 | $9,756 | $32,192 | $100,110 | $161,590 | $234,935 |
Source: Ownwell
Property Tax Bills Across Goldsboro, North Carolina
In Goldsboro, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Wayne County. The assessed value is determined by county assessors who evaluate the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Goldsboro, this means that properties with higher market values will result in higher tax bills. For instance, the median home price in Goldsboro is $78,435, and tax bills can vary widely. Homeowners at the 25th percentile might see tax bills around $342, while those at the 75th percentile could pay about $1,564. At the 90th percentile, tax bills can reach up to $2,413. The highest median tax bill in the area is $1,081 in the 27534 zip code, while the lowest is $834 in the 27530 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Goldsboro Tax Bill
$941
Average Wayne County Tax Bill
$703
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Goldsboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27530 | $53 | $300 | $834 | $1,426 | $2,054 |
| 27531 | $1,031 | $1,031 | $1,031 | $1,031 | $1,031 |
| 27534 | $133 | $418 | $1,081 | $1,823 | $2,912 |
Source: Ownwell