Stedman, North Carolina Property Taxes
The median property tax rate in Stedman, NC is 1.17%, 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 $116,565 in Stedman, the typical annual property tax bill amounts to $1,314, surpassing the national median of $2,690. Property taxes in Stedman 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 Stedman’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 Stedman or another part of Cumberland County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stedman, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,364
Ownwell’s Stedman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stedman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stedman 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 Stedman, North Carolina
Property taxes in Stedman, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stedman is 1.17%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Stedman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stedman 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 Stedman's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28391 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Stedman 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 Stedman Tax Rate
1.17%
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 Stedman, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28391 | 0.93% | 1.04% | 1.17% | 1.29% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Stedman, North Carolina
In Stedman, 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 Cumberland County 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 Stedman, 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 Stedman 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 in the area is 28391, both valued at $1,314.
Average Stedman Assessed Value
$116,565
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 Stedman, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28391 | $32,799 | $61,223 | $116,565 | $180,560 | $234,767 |
Source: Ownwell
Property Tax Bills Across Stedman, North Carolina
In Stedman, Cumberland County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $116,565, homeowners can expect varying tax bills depending on specific factors like property size, location, and improvements. The tax bill in Stedman can range significantly. At the 25th percentile, homeowners might pay around $714, while those at the 75th percentile could see bills as high as $1,963. At the 90th percentile, the tax bill can reach up to $2,409. This variability reflects different property values and the corresponding assessments. For homeowners, understanding these factors is crucial, as property taxes can be a substantial part of annual expenses. Comparing this to the national median property tax rate of 0.99%, it’s evident that local rates and property values significantly influence the tax burden in Stedman.
Average Stedman Tax Bill
$1,314
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 Stedman, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28391 | $400 | $714 | $1,314 | $1,963 | $2,409 |
Source: Ownwell