Eastover, North Carolina Property Taxes
The median property tax rate in Eastover, NC is 1.10%, which is significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $126,037 in Eastover, the typical annual property tax bill amounts to $1,374, surpassing the national median of $2,690. Property taxes in Eastover are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Eastover'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 Eastover or another part of Cumberland County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eastover, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,386
Ownwell’s Eastover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastover 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 Eastover, North Carolina
Property taxes in Eastover, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastover is 1.10%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Eastover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eastover 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 Eastover's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 28312 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these areas compare with Eastover provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eastover Tax Rate
1.10%
Average Cumberland County Tax Rate
1.48%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastover, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28312 | 0.83% | 1.00% | 1.10% | 1.22% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Eastover, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eastover, NC. 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 Cumberland 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 Eastover, 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. For instance, the median home price in Eastover is $126,037, with tax bills ranging from $771 at the 25th percentile to $3,059 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Knowing these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eastover Assessed Value
$126,037
Average Cumberland County Assessed Value
$115,098
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eastover, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28312 | $22,849 | $75,490 | $126,037 | $199,857 | $311,509 |
Source: Ownwell
Property Tax Bills Across Eastover, North Carolina
In Eastover, property tax bills are calculated based on the assessed value of a home, which is determined by the Cumberland County tax assessor. This assessed value reflects the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Eastover typically see tax bills that vary significantly depending on their property's value. For instance, the tax bill at the 25th percentile is $771, while it rises to $2019 at the 75th percentile, and can reach up to $3059 at the 90th percentile. The median home price in Eastover is $126,037, which influences these tax calculations. Compared to the national median property tax rate of 0.99%, Eastover's property tax bills reflect the region's specific valuation and tax rate policies. These tax bills are crucial for homeowners as they directly impact annual expenses and the overall cost of owning property in Eastover.
Average Eastover Tax Bill
$1,374
Average Cumberland County Tax Bill
$1,668
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastover, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28312 | $304 | $771 | $1,374 | $2,019 | $3,059 |
Source: Ownwell