Wallace, Duplin County, North Carolina Property Taxes
Median WALLACE, NC effective property tax rate: 0.98%, slightly lower than the national median of 1.02%, but higher than the North Carolina state median of 0.82%.
Median WALLACE, NC home value: $80,200
Median annual WALLACE, NC tax bill: $981, $1,419 lower than the national median property tax bill of $2,400.
How are property taxes in Duplin County calculated?
Property taxes in WALLACE, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding WALLACE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in WALLACE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wallace, Duplin County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.94%
Estimate Property Tax Bill
$752
$698
Property Tax Rates Across Wallace, Duplin County, North Carolina
Local government entities in North Carolina set tax rates, which can vary widely within the state. Each year, counties estimate their required budgets to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the core of the annual process.
Wallace in Duplin County, NC, has an effective property tax rate of 0.98%, which is slightly below the national median property tax rate of 1.02%. This makes property ownership in Wallace relatively more affordable compared to the national average. However, property owners should be aware that tax rates can vary even within the state. For instance, the highest and lowest median tax rates in North Carolina are both 0.98%, indicating a uniformity in rates across different areas. When considering property investments, it's essential to compare Wallace's effective property tax rate to other cities in North Carolina and the national median property tax rates.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wallace Tax Rate
0.94%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Duplin County Tax Rate
0.92%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wallace, Duplin County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28466 | 0.74% | 0.84% | 0.94% | 1.35% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Wallace, Duplin County, North Carolina
When examining property taxes in Wallace, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Duplin County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Duplin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Wallace. For example, the median home price in Wallace is $80,200, with tax bills ranging significantly across the county. Zip code 28466 has the highest median home price at $80,200.
Property Tax Assessment Values Across Wallace, Duplin County, North Carolina
Source: Ownwell
$61,200
$70,600
$80,000
Median Wallace Market Value
$80,000
Median Duplin County Market Value
$70,300
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wallace, Duplin County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28466 | $20,260 | $47,200 | $80,000 | $162,600 | $349,380 |
Source: Ownwell
Property Tax Bills Across Wallace, Duplin County, North Carolina
Median Wallace Tax Bill
$901
Median Duplin County Tax Bill
$688
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Wallace, Duplin County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28466 | $278 | $504 | $901 | $1,728 | $3,011 |
Source: Ownwell