Cleveland, North Carolina Property Taxes
The median property tax rate in Cleveland, NC is 0.67%, which is considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Cleveland at $163,484, the typical annual property tax bill reaches $1,461, significantly below the national median of $2,690. Property taxes in Cleveland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cleveland'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 Cleveland or another part of Rowan County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cleveland, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,095
Ownwell’s Cleveland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cleveland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cleveland 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 Cleveland, North Carolina
Property taxes in Cleveland, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cleveland is 0.67%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Cleveland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cleveland 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 Cleveland's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27013 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these areas compare with Cleveland provides valuable insights into the varying tax landscape across Rowan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cleveland Tax Rate
0.67%
Average Rowan County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cleveland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27013 | 0.66% | 0.67% | 0.67% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Cleveland, North Carolina
In Cleveland, 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 Rowan 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 Cleveland, 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 Cleveland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27013, with a median tax bill of $1,461.
Property Tax Assessment Values Across Cleveland, North Carolina
Source: Ownwell
$43,240
$356,407
$669,574
Average Cleveland Assessed Value
$163,484
Average Rowan County Assessed Value
$187,326
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cleveland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27013 | $39,090 | $95,979 | $163,484 | $270,163 | $418,754 |
Source: Ownwell
Property Tax Bills Across Cleveland, North Carolina
In Cleveland, Rowan County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county's tax assessor and reflects the market value of the property. Homeowners in Cleveland face a median property tax rate that aligns closely with the national median of 0.99%. For a median home price of $163,484, homeowners can expect a tax bill around this rate, though individual bills can vary. At the 25th percentile, tax bills are approximately $835, while at the 75th percentile, they rise to $2,168, and at the 90th percentile, they can reach up to $2,857. The highest and lowest median tax bills in the area are both recorded at $1,461 in zip code 27013. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly affecting the community's quality of life. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Cleveland Tax Bill
$1,461
Average Rowan County Tax Bill
$1,628
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cleveland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27013 | $439 | $835 | $1,461 | $2,168 | $2,857 |
Source: Ownwell