Connelly Springs, North Carolina Property Taxes
The median property tax rate in Connelly Springs, NC is 0.83%, slightly higher than the North Carolina state median of 0.82% but below the national median of 0.99%. With a median home value of $199,401 in Connelly Springs, the typical annual property tax bill amounts to $1,663, which is significantly lower than the national median of $2,690. Property taxes in Connelly Springs are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Grasping the nuances of Connelly Springs' property tax system, exploring available exemptions, and finding potential reductions can lead to notable annual savings. Whether you're in the heart of Connelly Springs or another part of Cleveland County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Connelly Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,655
Ownwell’s Connelly Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Connelly Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Connelly Springs 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 Connelly Springs, North Carolina
Property taxes in Connelly Springs, 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 Connelly Springs is 0.83%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Connelly Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Connelly Springs 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 Connelly Springs' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28612 has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Connelly Springs provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Connelly Springs Tax Rate
0.83%
Average Cleveland County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Connelly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28612 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Connelly Springs, North Carolina
In Connelly Springs, 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 Cleveland 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. 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 Connelly Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,663 in zip code 28612, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Connelly Springs, North Carolina
Source: Ownwell
$55,703
$127,552
$199,401
Average Connelly Springs Assessed Value
$199,401
Average Cleveland County Assessed Value
$100,046
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Connelly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28612 | $199,401 | $199,401 | $199,401 | $199,401 | $199,401 |
Source: Ownwell
Property Tax Bills Across Connelly Springs, North Carolina
In Connelly Springs, located in Cleveland County, NC, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local tax assessors who evaluate the market conditions, property characteristics, and recent sales of similar properties in the area. For instance, the median home price in Connelly Springs is $199,401. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. In Cleveland County, the median property tax bill is $1,663, which is significantly higher than the national median property tax rate of 0.99%. This means that homeowners in Connelly Springs may face higher tax obligations compared to other regions. Several factors influence the tax bill, including property improvements, neighborhood developments, and changes in market value. Homeowners need to be mindful of these factors as they can lead to fluctuations in their annual tax bills, impacting their overall financial planning and homeownership costs.
Average Connelly Springs Tax Bill
$1,663
Average Cleveland County Tax Bill
$887
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Connelly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28612 | $1,663 | $1,663 | $1,663 | $1,663 | $1,663 |
Source: Ownwell