Sims, North Carolina Property Taxes
The median property tax rate in Sims, NC is 0.86%, 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 $142,574 in Sims, the typical annual property tax bill amounts to $1,251, which is less than the national median of $2,690. Property taxes in Sims are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sims' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sims 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
Sims, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,226
$1,138
Ownwell’s SIMS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SIMS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SIMS 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 Sims, North Carolina
Property taxes in Sims, 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 Sims is 0.86%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Sims set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sims 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 Sims' effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27880 has both the highest and lowest median property tax rate in the county, standing at 0.86%. Understanding how these areas compare with Sims 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 Sims Tax Rate
0.86%
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 Sims, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27880 | 0.53% | 0.84% | 0.86% | 0.91% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Sims, North Carolina
In Sims, 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 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 Sims, 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 Sims helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sims is $1,251 in the 27880 zip code, while the lowest is also $1,251 in the same zip code.
Average Sims Assessed Value
$142,574
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 Sims, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27880 | $46,494 | $79,994 | $142,574 | $216,103 | $302,164 |
Source: Ownwell
Property Tax Bills Across Sims, North Carolina
In Sims, property tax bills are calculated based on the assessed value of a home, which is determined by the Wilson County tax assessor. The median home price in Sims is $142,574. Property taxes are then applied to this assessed value using the local tax rate. For example, homeowners in the 25th percentile can expect a tax bill around $649, while those in the 75th percentile might see bills as high as $1,923. The highest median tax bill in the area is $1,251. Factors such as property improvements, location, and market conditions can influence the assessed value, directly impacting the tax bill. This system ensures that property taxes are proportionate to the home's value, but it also means that homeowners in Sims may experience fluctuations in their tax bills based on changes in the real estate market. Compared to the national median property tax rate of 0.99%, Sims offers a varied range of tax bills, reflecting the diverse property values within the community.
Average Sims Tax Bill
$1,251
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 Sims, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27880 | $351 | $649 | $1,251 | $1,923 | $2,524 |
Source: Ownwell