Stumpy Point, North Carolina Property Taxes
The median property tax rate in Stumpy Point, NC is 0.61%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $179,300 in Stumpy Point, the typical annual property tax bill amounts to $1,077, which is well below the national median of $2,690. Property taxes in Stumpy Point are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Grasping Stumpy Point's property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial annual savings. Whether you're in the heart of Stumpy Point or another part of Dare County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stumpy Point, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,094
Ownwell’s Stumpy Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stumpy Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stumpy Point 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 Stumpy Point, North Carolina
Property taxes in Stumpy Point, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stumpy Point is 0.61%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Stumpy Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stumpy Point 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 Stumpy Point's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27978 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Stumpy Point provides valuable insights into the varying tax landscape across Dare County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stumpy Point Tax Rate
0.61%
Average Dare County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stumpy Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27978 | 0.61% | 0.61% | 0.61% | 0.61% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Stumpy Point, North Carolina
In Stumpy Point, 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 Dare 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 Stumpy Point, 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 Stumpy Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 27978, with a value of $1,077.
Property Tax Assessment Values Across Stumpy Point, North Carolina
Source: Ownwell
$167,600
$362,100
$556,600
Average Stumpy Point Assessed Value
$179,300
Average Dare County Assessed Value
$355,020
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stumpy Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27978 | $97,280 | $127,350 | $179,300 | $228,533 | $311,460 |
Source: Ownwell
Property Tax Bills Across Stumpy Point, North Carolina
In Stumpy Point, NC, located in Dare County, property tax bills are calculated based on the assessed value of a homeowner's property. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $179,300, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Several factors influence the final tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. In Stumpy Point, the 25th percentile tax bill is around $687, while the 75th percentile reaches $1,405. The highest median tax bill in the area is $1,077, highlighting the variability depending on specific property assessments. This system significantly impacts homeowners, as higher assessed values and tax rates result in higher annual tax obligations. Comparing this to the national median property tax rate of 0.99%, homeowners in Stumpy Point may find their tax bills quite competitive or burdensome, depending on their property's assessed value and local tax rates.
Average Stumpy Point Tax Bill
$1,077
Average Dare County Tax Bill
$2,313
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Stumpy Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27978 | $498 | $687 | $1,077 | $1,405 | $1,915 |
Source: Ownwell