Stony Point, North Carolina Property Taxes
The median property tax rate in Stony Point, NC is 0.86%, slightly below the national median of 0.99% but higher than North Carolina's state median of 0.82%. With a median home value of $173,516 in Stony Point, the typical annual property tax bill amounts to $1,468, which is significantly lower than the national median of $2,690. Property taxes in Stony Point are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Stony Point'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 Stony Point or another part of Alexander County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stony Point, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,492
Ownwell’s Stony Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stony Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stony Point 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 Alexander County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Stony Point, North Carolina
Property taxes in Stony Point, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stony Point is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Stony Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stony Point 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 Stony Point's effective property tax rate to other areas in Alexander County and the national median. For comparison, the 28678 zip code has the highest median property tax rate of 0.86%, while the same 28678 zip code also has the lowest median tax rate of 0.86%. Understanding how these figures compare with Stony Point provides valuable insights into the varying tax landscape across Alexander County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stony Point Tax Rate
0.86%
Average Alexander County Tax Rate
0.84%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stony Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28678 | 0.84% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Stony Point, North Carolina
In Stony Point, 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 Alexander 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 Stony Point, 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 Stony Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,468 in the 28678 zip code, while the lowest median tax bill is also $1,468 in the same zip code.
Property Tax Assessment Values Across Stony Point, North Carolina
Source: Ownwell
$155,479
$194,313
$233,146
Average Stony Point Assessed Value
$173,516
Average Alexander County Assessed Value
$195,568
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stony Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28678 | $61,869 | $114,778 | $173,516 | $242,311 | $338,951 |
Source: Ownwell
Property Tax Bills Across Stony Point, North Carolina
In Stony Point, Alexander County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $173,516, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including the specific property’s assessed value, any applicable exemptions, and the local tax rate. In Stony Point, the tax bill for the 25th percentile is around $934, while it climbs to $2,003 at the 75th percentile, and reaches $2,732 at the 90th percentile. These figures show a range of property tax burdens, reflecting differences in property values and assessments. Understanding these factors is crucial for homeowners, as property taxes represent a significant annual expense. Compared to the national median property tax rate of 0.99%, Stony Point's tax rates and bills can provide a benchmark for evaluating property tax liabilities in the region.
Average Stony Point Tax Bill
$1,468
Average Alexander County Tax Bill
$1,652
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Stony Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28678 | $366 | $934 | $1,468 | $2,003 | $2,732 |
Source: Ownwell