Fallston, North Carolina Property Taxes
The median property tax rate in Fallston, NC is 0.87%, slightly below the national median of 0.99% but above the North Carolina state median of 0.82%. With the median home value in Fallston at $100,456, the typical annual property tax bill is $808, which is significantly lower than the national median of $2,690. Property taxes in Fallston are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fallston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fallston or another part of Cleveland County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fallston, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$874
Ownwell’s Fallston Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fallston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fallston to provide an accurate estimate of your property tax bill. This insightful tool is essential for understanding potential tax liabilities. For those interested in more granular details, localized information on neighborhood trends is available further down the page. Your property’s assessed value, determined by Cleveland County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Fallston, North Carolina
Property taxes in Fallston, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fallston is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Fallston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fallston 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 Fallston's effective property tax rate to other areas in Cleveland County and the national median. For comparison, the zip code 28042 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Fallston provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fallston Tax Rate
0.87%
Average Cleveland County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fallston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28042 | 0.60% | 0.83% | 0.87% | 0.93% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Fallston, North Carolina
In Fallston, 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 Cleveland 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 Fallston, 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 Fallston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $808 in the zip code 28042.
Property Tax Assessment Values Across Fallston, North Carolina
Source: Ownwell
$55,703
$127,552
$199,401
Average Fallston Assessed Value
$100,456
Average Cleveland County Assessed Value
$100,046
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fallston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28042 | $25,688 | $61,925 | $100,456 | $165,176 | $245,367 |
Source: Ownwell
Property Tax Bills Across Fallston, North Carolina
In Fallston, located in Cleveland County, NC, property tax bills are calculated based on the assessed value of a property. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions play a crucial role in this calculation. For instance, the median home price in Fallston is $100,456, and the corresponding tax bills vary significantly. Homeowners in the 25th percentile pay around $495, while those in the 75th percentile see bills closer to $1,347. At the 90th percentile, tax bills can reach up to $1,982. The highest and lowest median tax bills in the area both stand at $808, which is below the national median property tax rate of 0.99%. This variation in tax bills directly impacts homeowners' financial planning, influencing everything from monthly budgets to long-term investment decisions in the property market.
Average Fallston Tax Bill
$808
Average Cleveland County Tax Bill
$887
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fallston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28042 | $189 | $495 | $808 | $1,347 | $1,982 |
Source: Ownwell