Cedar Grove, North Carolina Property Taxes
The median property tax rate in Cedar Grove, NC is 0.99%, aligning with the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $195,250 in Cedar Grove, the typical annual property tax bill amounts to $1,671, which is below the national median of $2,690. Property taxes in Cedar Grove are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cedar Grove'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 Cedar Grove 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
Cedar Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,933
Ownwell’s Cedar Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Grove 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 Cedar Grove, North Carolina
Property taxes in Cedar Grove, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Grove is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Cedar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Grove 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 Cedar Grove's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27231 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these areas compare with Cedar Grove provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Grove Tax Rate
0.99%
Average Orange County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | 0.46% | 0.93% | 0.99% | 1.03% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Grove, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cedar Grove, 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 Orange 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 Cedar Grove, 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. The median home price in Cedar Grove is $195,250, with tax bills ranging from $1,054 at the 25th percentile to $3,684 at the 90th percentile. The highest and lowest median tax bills are both $1,671 in the 27231 zip code. 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 Cedar Grove, North Carolina
Source: Ownwell
$30,900
$291,050
$551,200
Average Cedar Grove Assessed Value
$195,250
Average Orange County Assessed Value
$295,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | $66,590 | $113,850 | $195,250 | $315,725 | $479,240 |
Source: Ownwell
Property Tax Bills Across Cedar Grove, North Carolina
In Cedar Grove, NC, property tax bills are determined by the assessed value of a home and the local tax rate set by Orange County. The median home price in Cedar Grove is $195,250, and the property tax rate is applied to this assessed value to calculate the tax bill. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value. For homeowners in Cedar Grove, the annual tax bill can vary significantly. At the 25th percentile, the tax bill is around $1,054, while at the 75th percentile, it rises to approximately $2,556. The top 10% of homeowners face tax bills as high as $3,684. Comparatively, the highest and lowest median tax bills in the area are both $1,671, indicating a consistent tax rate within the zip code 27231. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly, ensuring they are prepared for their annual property tax obligations.
Average Cedar Grove Tax Bill
$1,671
Average Orange County Tax Bill
$3,822
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | $491 | $1,054 | $1,671 | $2,556 | $3,684 |
Source: Ownwell