Fayetteville, North Carolina Property Taxes
The median property tax rate in Fayetteville, NC is 0.90%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $166,210 in Fayetteville, the typical annual property tax bill amounts to $1,471, which is below the national median of $2,690. Property taxes in Fayetteville are calculated based on the assessed value, which typically falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fayetteville'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 Fayetteville 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
Fayetteville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,496
Ownwell’s Fayetteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayetteville 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 Fayetteville, North Carolina
Property taxes in Fayetteville, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 28304 zip code has the highest median property tax rate of 0.99%, while the 28306 zip code has the lowest median tax rate of 0.89%. Understanding how these areas compare with Fayetteville provides valuable insights into the varying tax landscape across Hoke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fayetteville Tax Rate
0.90%
Average Hoke County Tax Rate
0.88%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayetteville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28304 | 0.62% | 0.90% | 0.99% | 1.07% | 1.21% |
| 28306 | 0.72% | 0.87% | 0.89% | 0.91% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fayetteville, 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 Hoke 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 Fayetteville, 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 Fayetteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Fayetteville is $1,504 in the 28306 zip code, while the lowest median tax bill is $716 in the 28304 zip code. With a median home price of $166,210, knowing these figures can significantly aid in financial planning.
Property Tax Assessment Values Across Fayetteville, North Carolina
Source: Ownwell
$74,340
$136,390
$198,440
Average Fayetteville Assessed Value
$166,210
Average Hoke County Assessed Value
$178,870
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fayetteville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28304 | $34,971 | $56,150 | $74,340 | $105,222 | $151,329 |
| 28306 | $124,432 | $147,698 | $169,530 | $218,432 | $254,441 |
Source: Ownwell
Property Tax Bills Across Fayetteville, North Carolina
In Fayetteville, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $166,210, homeowners can expect varying tax bills depending on the exact value of their property and the specific tax rate applied. Several factors influence the property tax bill, including the property's assessed value, exemptions, and the local tax rate. Tax bills in Fayetteville range widely; for example, the 25th percentile tax bill is $1,180, while the 75th percentile tax bill is $1,857. At the higher end, the 90th percentile tax bill reaches $2,120. Homeowners in different parts of the city experience varying tax burdens, with the highest median tax bill in zip code 28306 being $1,504, compared to the lowest median tax bill of $716 in zip code 28304. Understanding these factors helps homeowners anticipate their annual financial obligations.
Average Fayetteville Tax Bill
$1,471
Average Hoke County Tax Bill
$1,520
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayetteville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28304 | $413 | $572 | $716 | $995 | $1,546 |
| 28306 | $1,074 | $1,272 | $1,504 | $1,894 | $2,149 |
Source: Ownwell