Lenoir, North Carolina Property Taxes
The median property tax rate in Lenoir, NC is 0.75%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Lenoir, the typical annual property tax bill reaches $777, significantly below the national median of $2,690. Property taxes in Lenoir 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 Lenoir'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 Lenoir 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
Lenoir, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$778
Ownwell’s Lenoir Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lenoir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenoir to provide an accurate property tax bill estimate. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, assigned by the county for property tax calculations, accounts for any applicable exemptions.
Property Tax Rates Across Lenoir, North Carolina
Property taxes in Lenoir, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenoir is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Lenoir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenoir 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 Lenoir's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28645 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Lenoir provides valuable insights into the varying tax landscape across Caldwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenoir Tax Rate
0.75%
Average Wilkes County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Lenoir, North Carolina
In Lenoir, 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 Wilkes 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 Lenoir, 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 Lenoir helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28645 has both the highest and lowest median tax bill, at $777.
Average Lenoir Assessed Value
$103,740
Average Wilkes County Assessed Value
$107,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | $82,306 | $94,000 | $103,740 | $177,190 | $431,128 |
Source: Ownwell
Property Tax Bills Across Lenoir, North Carolina
In Lenoir, 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 assessor and is a percentage of the market value of the property. Homeowners in Lenoir, located in Wilkes County, can expect their tax bills to vary depending on several factors, including property size, location, and any applicable exemptions. For instance, the median home price in Lenoir is $103,740. Depending on the assessed value, homeowners might see tax bills ranging from $704 at the 25th percentile to $1,326 at the 75th percentile. At the higher end, the 90th percentile tax bill can reach up to $3,227. The median tax bill in the area, specifically within the 28645 zip code, is $777. These property tax bills directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, Lenoir’s rates can be seen as relatively moderate, providing a balanced approach to funding local services without overly burdening property owners.
Average Lenoir Tax Bill
$777
Average Wilkes County Tax Bill
$770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | $621 | $704 | $777 | $1,326 | $3,227 |
Source: Ownwell