Cedar Point, North Carolina Property Taxes
The median property tax rate in Cedar Point, NC is 0.62%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $280,170 in Cedar Point, the typical annual property tax bill amounts to $1,706, which is significantly below the national median of $2,690. Property taxes in Cedar Point are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Cedar Point'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 Cedar Point 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
Cedar Point, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,737
Ownwell’s Cedar Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cedar Point, North Carolina
Property taxes in Cedar Point, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Point is 0.62%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Cedar Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar 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 Cedar Point's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28584 zip code has the highest median property tax rate of 0.62%, while the same 28584 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Cedar Point provides valuable insights into the varying tax landscape across Carteret County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Point Tax Rate
0.62%
Average Carteret County Tax Rate
0.55%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28584 | 0.59% | 0.62% | 0.62% | 0.62% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Point, North Carolina
In Cedar 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 Carteret 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 Cedar 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 Cedar Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cedar Point are both $1,706, occurring in zip code 28584.
Property Tax Assessment Values Across Cedar Point, North Carolina
Source: Ownwell
$70,790
$314,164
$557,538
Average Cedar Point Assessed Value
$280,170
Average Carteret County Assessed Value
$225,462
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28584 | $129,950 | $187,530 | $280,170 | $379,304 | $517,217 |
Source: Ownwell
Property Tax Bills Across Cedar Point, North Carolina
In Cedar Point, property tax bills are calculated based on the assessed value of a home, which is determined by the Carteret County tax assessor. The assessed value is a percentage of the market value, and this value is then multiplied by the local property tax rate. For Cedar Point, the median home price is $280,170, and the tax rate results in various tax bills depending on the home's assessed value. Several factors influence the final tax bill, including the property's size, location, and any improvements made. Homeowners in Cedar Point can expect tax bills ranging from $1,108 at the 25th percentile to $3,243 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,706, indicating a relatively uniform taxation approach within the zip code 28584. These property taxes significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding this calculation helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Cedar Point Tax Bill
$1,706
Average Carteret County Tax Bill
$1,125
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28584 | $811 | $1,108 | $1,706 | $2,345 | $3,243 |
Source: Ownwell