Stem, North Carolina Property Taxes
The median property tax rate in STEM, 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 $144,186 in STEM, the typical annual property tax bill comes to $1,632, which is below the national median of $2,690. Property taxes in STEM are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding STEM'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 STEM 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
Stem, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,427
Ownwell’s STEM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STEM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STEM 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 Stem, North Carolina
Property taxes in STEM, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in STEM is 0.99%, aligning with both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within STEM set these rates annually, and they can vary significantly across different neighborhoods. Each year, STEM 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 STEM's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27581 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with STEM provides valuable insights into the varying tax landscape across Granville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stem Tax Rate
0.99%
Average Granville County Tax Rate
1.00%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27581 | 0.90% | 0.93% | 0.99% | 1.35% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Stem, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in STEM, North Carolina. 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 Granville 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 STEM, 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 STEM helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Granville County is $1632 in zip code 27581, providing a benchmark for local property tax expectations.
Average Stem Assessed Value
$144,186
Average Granville County Assessed Value
$137,588
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27581 | $66,914 | $97,435 | $144,186 | $204,667 | $281,362 |
Source: Ownwell
Property Tax Bills Across Stem, North Carolina
Property tax bills in STEM, Granville County, NC, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In STEM, the median home price is $144,186, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $973, while the 75th percentile tax bill reaches $2,130. At the 90th percentile, homeowners might see a tax bill as high as $2,797. Several factors influence these tax bills, including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, the rates in STEM reflect the local economic conditions and funding requirements for public services. High property taxes can impact homeowners by increasing the cost of owning a home, but they also contribute to essential public services like schools and infrastructure, enhancing the overall community quality.
Average Stem Tax Bill
$1,632
Average Granville County Tax Bill
$1,476
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Stem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27581 | $677 | $973 | $1,632 | $2,130 | $2,797 |
Source: Ownwell