Cedar Grove, North Carolina Property Taxes
The median property tax rate in Cedar Grove, NC is 0.57%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value in Cedar Grove, the typical annual property tax bill is $432, far below the national median of $2,690. Property taxes in Cedar Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cedar Grove'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 Grove or another part of Caswell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cedar Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$434
Ownwell’s Cedar Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Grove 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 Grove, North Carolina
Property taxes in Cedar Grove, 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 Cedar Grove is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Cedar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Grove 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 Grove's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27231 has both the highest and lowest median property tax rate in the area, at 0.57%. Understanding how these cities compare with Cedar Grove provides valuable insights into the varying tax landscape across Caswell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Grove Tax Rate
0.57%
Average Caswell County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Grove, North Carolina
In Cedar Grove, 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 Caswell 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 Grove, 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 Grove 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 Grove are both $432, with zip code 27231 having the same tax bill across different percentiles.
Property Tax Assessment Values Across Cedar Grove, North Carolina
Source: Ownwell
$73,037
$187,890
$302,742
Average Cedar Grove Assessed Value
$76,067
Average Caswell County Assessed Value
$93,808
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | $76,067 | $76,067 | $76,067 | $76,067 | $76,067 |
Source: Ownwell
Property Tax Bills Across Cedar Grove, North Carolina
In Cedar Grove, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor's office and reflects the market value of the property. Once the assessed value is established, the tax rate set by Caswell County is applied to calculate the annual tax bill. For instance, with a median home price of $76,067, homeowners can expect a tax bill around $432, which is consistent across various percentiles including the 25th, 75th, and 90th. This uniformity suggests a relatively stable and predictable tax environment for residents. Factors that influence the tax bill include property characteristics, neighborhood conditions, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Cedar Grove offers a more affordable property tax scenario, making it an attractive option for homeowners. Understanding how these elements come together helps residents anticipate their financial obligations and plan accordingly.
Average Cedar Grove Tax Bill
$432
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | $432 | $432 | $432 | $432 | $432 |
Source: Ownwell