Middlesex, North Carolina Property Taxes
The median property tax rate in Middlesex, NC is 0.79%, 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 Middlesex at $146,425, the typical annual property tax bill is $1,180, well below the national median of $2,690. Property taxes in Middlesex 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 Middlesex'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 Middlesex 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
Middlesex, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,157
$1,073
Ownwell’s Middlesex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middlesex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middlesex 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 Middlesex, North Carolina
Property taxes in Middlesex, 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 Middlesex is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Middlesex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlesex 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 Middlesex's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27557 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these areas compare with Middlesex provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middlesex Tax Rate
0.79%
Average Wilson County Tax Rate
1.30%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middlesex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27557 | 0.57% | 0.78% | 0.79% | 0.83% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Middlesex, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Middlesex, 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 Wilson 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 Middlesex, 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. Middlesex has a median home price of $146,425, with tax bills ranging from $640 at the 25th percentile to $2,332 at the 90th percentile. The zip code 27557 has both the highest and lowest median tax bill at $1,180. 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 Middlesex, North Carolina
Source: Ownwell
$66,768
$107,800
$148,831
Average Middlesex Assessed Value
$146,425
Average Wilson County Assessed Value
$97,889
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middlesex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27557 | $56,071 | $80,821 | $146,425 | $202,450 | $306,068 |
Source: Ownwell
Property Tax Bills Across Middlesex, North Carolina
In Middlesex, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Middlesex is $146,425. The tax rate is applied to this assessed value to determine the annual tax bill. Factors like property size, location, and improvements can influence the assessed value. For homeowners in Middlesex, the tax bill can significantly impact their finances. At the 25th percentile, the tax bill is around $640, while at the 75th percentile, it rises to approximately $1,514. For those at the 90th percentile, the tax bill can reach up to $2,332. The highest and lowest median tax bills in Middlesex both stand at $1,180, highlighting a consistent tax rate across the area. Compared to the national median property tax rate of 0.99%, Middlesex's rates can vary, affecting homeowners differently based on their property's assessed value.
Average Middlesex Tax Bill
$1,180
Average Wilson County Tax Bill
$1,033
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlesex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27557 | $341 | $640 | $1,180 | $1,514 | $2,332 |
Source: Ownwell