Walstonburg, North Carolina Property Taxes
The median property tax rate in Walstonburg, NC is 0.93%, slightly below the national median of 0.99% but above the North Carolina state median of 0.82%. With the median home value in Walstonburg at $78,482, the typical annual property tax bill amounts to $731, which is significantly lower than the national median of $2,690. Property taxes in Walstonburg are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Walstonburg'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 Walstonburg or another part of Wilson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walstonburg, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$730
$677
Ownwell’s Walstonburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walstonburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walstonburg to provide an accurate property tax estimate. This valuable tool helps you understand potential tax liabilities, ensuring you are well-prepared for financial planning. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value, determined by Wilson County, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Walstonburg, North Carolina
Property taxes in Walstonburg, 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 Walstonburg is 0.93%, which is below the U.S. national median of 0.99%. Local government entities within Walstonburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walstonburg 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 Walstonburg's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27888 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Walstonburg 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 Walstonburg Tax Rate
0.93%
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 Walstonburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27888 | 0.56% | 0.88% | 0.93% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Walstonburg, North Carolina
In Walstonburg, 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 Walstonburg, 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 Walstonburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Walstonburg is $78,482, with tax bills ranging from $457 at the 25th percentile to $1,343 at the 90th percentile. Notably, the zip code 27888 has both the highest and lowest median tax bill of $731.
Property Tax Assessment Values Across Walstonburg, North Carolina
Source: Ownwell
$66,768
$107,800
$148,831
Average Walstonburg Assessed Value
$78,482
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 Walstonburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27888 | $29,071 | $44,618 | $78,482 | $129,031 | $191,693 |
Source: Ownwell
Property Tax Bills Across Walstonburg, North Carolina
In Walstonburg, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Wilson County tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $78,482, homeowners can expect a tax bill around the median of $731. This figure is significantly lower than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to the home. Tax bills can vary widely, with the 25th percentile tax bill at $457 and the 75th percentile reaching $1,063. At the 90th percentile, homeowners might see bills as high as $1,343. These variations can significantly impact homeowners, influencing their annual budgeting and long-term financial planning. Understanding these factors helps homeowners anticipate their property tax obligations more accurately.
Average Walstonburg Tax Bill
$731
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 Walstonburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27888 | $313 | $457 | $731 | $1,063 | $1,343 |
Source: Ownwell