Fayetteville, North Carolina Property Taxes
The median property tax rate in Fayetteville, NC is 1.55%, 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 Fayetteville at $114,484, the typical annual property tax bill reaches $1,726, which is below the national median of $2,690. Property taxes in Fayetteville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fayetteville'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 Fayetteville 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
Fayetteville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,775
Ownwell’s Fayetteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayetteville 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 Fayetteville, North Carolina
Property taxes in Fayetteville, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 1.55%, higher than the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other areas in Cumberland County and the national median. For comparison, the 28301 zip code has the highest median property tax rate of 1.75%, while the 28306 zip code has the lowest median tax rate of 1.10%. Understanding how these areas compare with Fayetteville 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 Fayetteville Tax Rate
1.55%
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 Fayetteville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28301 | 1.21% | 1.54% | 1.75% | 2.30% | 2.85% |
| 28303 | 1.14% | 1.46% | 1.60% | 1.76% | 1.97% |
| 28304 | 1.14% | 1.47% | 1.65% | 1.78% | 1.91% |
| 28305 | 1.19% | 1.44% | 1.65% | 1.93% | 2.13% |
| 28306 | 0.87% | 1.00% | 1.10% | 1.51% | 1.74% |
| 28311 | 0.99% | 1.15% | 1.50% | 1.66% | 1.77% |
| 28312 | 0.86% | 1.00% | 1.15% | 1.42% | 1.81% |
| 28314 | 1.17% | 1.46% | 1.61% | 1.71% | 1.81% |
| 28356 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, North Carolina
In Fayetteville, 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 Cumberland County Assessor 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 Fayetteville, 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, homeowners in the 28305 zip code face the highest median tax bill at $2,578, while those in the 28356 zip code have the lowest at $735. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fayetteville, North Carolina
Source: Ownwell
$22,900
$86,172
$149,444
Average Fayetteville Assessed Value
$114,484
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 Fayetteville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28301 | $30,015 | $42,159 | $72,977 | $101,373 | $137,589 |
| 28303 | $72,073 | $88,564 | $114,209 | $156,098 | $255,932 |
| 28304 | $67,649 | $81,821 | $100,824 | $132,163 | $197,245 |
| 28305 | $52,687 | $87,116 | $149,444 | $247,588 | $417,256 |
| 28306 | $34,116 | $78,539 | $137,502 | $209,599 | $293,622 |
| 28311 | $71,838 | $92,194 | $127,805 | $190,312 | $275,370 |
| 28312 | $27,169 | $58,572 | $116,663 | $219,438 | $288,286 |
| 28314 | $75,623 | $93,898 | $118,686 | $146,913 | $197,183 |
| 28356 | $64,240 | $64,240 | $64,240 | $64,240 | $64,240 |
Source: Ownwell
Property Tax Bills Across Fayetteville, North Carolina
In Fayetteville, Cumberland County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Various factors influence this assessment, including the property's location, size, and any improvements made. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Fayetteville's property tax rates can vary significantly within the region. For example, the median home price in the area is $114,484, resulting in a range of tax bills. Homeowners in the 25th percentile pay around $1,245, while those in the 75th percentile face bills closer to $2,364. The highest median tax bill in the area is $2,578 in zip code 28305, whereas the lowest is $735 in zip code 28356. These property tax bills impact homeowners by contributing to local services and infrastructure, but they also represent a significant annual expense that varies widely depending on the assessed value of their property.
Average Fayetteville Tax Bill
$1,726
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 Fayetteville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28301 | $744 | $915 | $1,213 | $1,604 | $2,223 |
| 28303 | $1,113 | $1,419 | $1,849 | $2,455 | $3,854 |
| 28304 | $1,055 | $1,335 | $1,631 | $2,175 | $2,902 |
| 28305 | $937 | $1,578 | $2,578 | $3,830 | $5,531 |
| 28306 | $455 | $858 | $1,573 | $2,491 | $3,431 |
| 28311 | $861 | $1,327 | $1,874 | $2,601 | $3,679 |
| 28312 | $375 | $754 | $1,377 | $2,301 | $3,028 |
| 28314 | $1,158 | $1,453 | $1,898 | $2,295 | $2,839 |
| 28356 | $735 | $735 | $735 | $735 | $735 |
Source: Ownwell