Millers Creek, North Carolina Property Taxes
The median property tax rate in Millers Creek, 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 a median home value of $108,600 in Millers Creek, the typical annual property tax bill amounts to $752, significantly below the national median of $2,690. Property taxes in Millers Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Millers Creek'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 Millers Creek 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
Millers Creek, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$815
Ownwell’s Millers Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millers Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millers Creek 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 Millers Creek, North Carolina
Property taxes in Millers Creek, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millers Creek is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Millers Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millers Creek 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 Millers Creek's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28651 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Millers Creek provides valuable insights into the varying tax landscape across Wilkes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millers Creek 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 Millers Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28651 | 0.62% | 0.75% | 0.75% | 0.76% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Millers Creek, North Carolina
In Millers Creek, 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 Millers Creek, 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 Millers Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 28651, with a bill of $752.
Property Tax Assessment Values Across Millers Creek, North Carolina
Source: Ownwell
$87,490
$155,103
$222,715
Average Millers Creek Assessed Value
$108,600
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 Millers Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28651 | $44,358 | $70,058 | $108,600 | $165,678 | $236,432 |
Source: Ownwell
Property Tax Bills Across Millers Creek, North Carolina
Property tax bills in Millers Creek, located in Wilkes County, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. Millers Creek homeowners face a median tax bill of $752, which is significantly below the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value and any applicable exemptions or deductions. For instance, the median home price in Millers Creek is $108,600. Property tax bills can vary significantly, with the 25th percentile at $471 and the 75th percentile at $1185, indicating a range of what homeowners might expect to pay. The highest tax bills in the area reach up to $1684, reflecting higher-valued properties or fewer exemptions. Understanding these factors can help homeowners in Millers Creek better anticipate their annual property tax obligations and plan their finances accordingly.
Average Millers Creek Tax Bill
$752
Average Wilkes County Tax Bill
$770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Millers Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28651 | $296 | $471 | $752 | $1,185 | $1,684 |
Source: Ownwell