Wilson, North Carolina Property Taxes
The median property tax rate in Wilson, NC is 1.30%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Wilson at $101,788, the typical annual property tax bill reaches $1,170, which is below the national median of $2,690. Property taxes in Wilson are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wilson'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 Wilson 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
Wilson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,323
$1,228
Ownwell's Wilson Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick and easy way to estimate annual property taxes in Wilson. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Wilson to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities and plan your finances better. For those interested in more granular insights, you can find neighborhood-specific trends and data further down the page. Your property's assessed value, determined by the county, is crucial for these calculations, and it considers any applicable exemptions.
Property Tax Rates Across Wilson, North Carolina
Property taxes in Wilson, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilson is 1.30%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Wilson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilson 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 Wilson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27896 zip code has the highest median property tax rate of 1.30%, while the 27893 zip code has the lowest median tax rate of 1.30%. Understanding how these cities compare with Wilson 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 Wilson Tax Rate
1.30%
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 Wilson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27893 | 0.84% | 0.94% | 1.30% | 1.31% | 1.31% |
| 27896 | 0.89% | 1.30% | 1.30% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Wilson, North Carolina
In Wilson, 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. 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. For instance, in Wilson, the highest median tax bill is $1,860 in the 27896 zip code, while the lowest median tax bill is $863 in the 27893 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wilson Assessed Value
$101,788
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 Wilson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27893 | $35,690 | $53,241 | $79,860 | $114,673 | $166,945 |
| 27896 | $84,014 | $111,389 | $148,831 | $210,240 | $285,040 |
Source: Ownwell
Property Tax Bills Across Wilson, North Carolina
In Wilson, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the property tax rate set by local authorities. For homeowners in Wilson County, the median home price is $101,788, which is significantly lower than the national median. This results in a median property tax bill that is relatively affordable compared to other regions. Several factors influence the tax bill, including the assessed value of the property, any applicable exemptions, and the local tax rate. For instance, in Wilson County, the 25th percentile tax bill is $703, while the 75th percentile reaches up to $1,862. Homeowners in the highest tax bracket, the 90th percentile, can expect to pay around $2,744 annually. These property taxes fund essential community services such as schools, public safety, and infrastructure. Understanding how property tax bills are calculated helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Wilson Tax Bill
$1,170
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 Wilson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27893 | $386 | $590 | $863 | $1,306 | $1,901 |
| 27896 | $898 | $1,359 | $1,860 | $2,605 | $3,555 |
Source: Ownwell