Pikeville, North Carolina Property Taxes
The median property tax rate in Pikeville, NC is 0.84%, slightly higher than the North Carolina state median of 0.82% but lower than the national median of 0.99%. With the median home value in Pikeville at $76,330, the typical annual property tax bill amounts to $822, which is well below the national median of $2,690. Property taxes in Pikeville are based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pikeville'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 Pikeville or elsewhere in Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pikeville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$641
Ownwell’s Pikeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pikeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pikeville 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 Pikeville, North Carolina
Property taxes in Pikeville, 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 Pikeville is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Pikeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pikeville 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 Pikeville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27863 has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these figures compare with Pikeville 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 Pikeville Tax Rate
0.84%
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 Pikeville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27863 | 0.81% | 0.82% | 0.84% | 0.88% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Pikeville, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pikeville, North Carolina. The market value represents the price a willing buyer would pay a willing seller in an open 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 Pikeville, 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. Pikeville has a median home price of $76,330, with tax bills ranging from $317 at the 25th percentile to $2,010 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pikeville, North Carolina
Source: Ownwell
$21,315
$69,448
$117,580
Average Pikeville Assessed Value
$76,330
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 Pikeville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27863 | $2,138 | $20,960 | $76,330 | $156,905 | $219,562 |
Source: Ownwell
Property Tax Bills Across Pikeville, North Carolina
In Pikeville, NC, 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 the county assessor and reflects the market value of the property. Homeowners in Pikeville can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $317 and the 75th percentile reaching $1,506. The highest median tax bill in the area is $822.00, highlighting the variation in tax obligations among residents. Several factors influence the tax bill, including property size, location, and improvements. These elements contribute to the assessed value, which, when multiplied by the local tax rate, determines the final tax bill. For homeowners, these taxes are a crucial part of their annual budget, impacting affordability and long-term financial planning. Compared to the national median property tax rate of 0.99%, Pikeville’s property tax rates can be seen as relatively moderate, making it an attractive location for homeowners seeking manageable tax obligations.
Average Pikeville Tax Bill
$822
Average Wayne County Tax Bill
$703
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Pikeville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27863 | $132 | $317 | $822 | $1,506 | $2,010 |
Source: Ownwell