Godwin, North Carolina Property Taxes
The median property tax rate in Godwin, NC is 1.15%, 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 Godwin at $97,465, the typical annual property tax bill reaches $1,035, still below the national median of $2,690. Property taxes in Godwin 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 Godwin'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 Godwin or another part of Cumberland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Godwin, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,121
Ownwell’s Godwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Godwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Godwin 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 Godwin, North Carolina
Property taxes in Godwin, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Godwin is 1.15%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Godwin set these rates annually, and they can vary across different neighborhoods. Each year, Godwin 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 Godwin's effective property tax rate to other areas in Cumberland County and the national median. For comparison, the zip code 28344 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with Godwin 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 Godwin Tax Rate
1.15%
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 Godwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28344 | 0.66% | 0.99% | 1.15% | 1.30% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Godwin, North Carolina
In Godwin, 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 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 Godwin, 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 Godwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28344 has the highest median tax bill at $1,035, which is notably higher compared to the national median property tax rate of 0.99%.
Average Godwin Assessed Value
$97,465
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 Godwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28344 | $33,026 | $58,997 | $97,465 | $161,568 | $250,563 |
Source: Ownwell
Property Tax Bills Across Godwin, North Carolina
In Godwin, Cumberland County, NC, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county's tax assessor and reflects the property's market value. Homeowners in Godwin can expect their tax bills to vary significantly depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $643, indicating that lower-valued homes incur smaller tax bills. Conversely, properties at the 75th percentile have tax bills around $1,590, and those at the 90th percentile reach up to $2,384. These tax bills are influenced by several factors, including the property's location, size, and any improvements made. The median home price in Godwin is $97,465, which is relatively modest compared to national figures. This impacts the overall property tax burden on homeowners, making it essential for them to understand how their assessed property values are calculated and how these values translate into their annual tax obligations.
Average Godwin Tax Bill
$1,035
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 Godwin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28344 | $387 | $643 | $1,035 | $1,590 | $2,384 |
Source: Ownwell