Earl, North Carolina Property Taxes
The median property tax rate in Earl, NC is 0.97%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Earl at $73,685, the typical annual property tax bill is $634, significantly lower than the national median of $2,690. Property taxes in Earl are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Earl'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 Earl or another part of Cleveland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Earl, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$715
$663
Ownwell’s EARL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EARL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EARL 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 Earl, North Carolina
Property taxes in EARL, 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 EARL is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within EARL set these rates annually, and they can vary significantly across different neighborhoods. Each year, EARL 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 EARL's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28038 has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with EARL 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 Earl Tax Rate
0.97%
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 Earl, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28038 | 0.71% | 0.84% | 0.97% | 1.00% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Earl, North Carolina
In EARL, 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. In EARL, 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 EARL helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $73,685, with tax bills ranging from $242 at the 25th percentile to $1,607 at the 90th percentile. The zip code 28038 has both the highest and lowest median tax bill at $634.
Average Earl Assessed Value
$73,685
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 Earl, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28038 | $10,306 | $32,231 | $73,685 | $115,356 | $220,767 |
Source: Ownwell
Property Tax Bills Across Earl, North Carolina
In Earl, Cleveland County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The median home price in Earl stands at $73,685. Property taxes are then applied using the county's tax rate, which is compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For example, the 25th percentile tax bill is around $242, while the 75th percentile tax bill reaches $1,014, and the 90th percentile tax bill can be as high as $1,607. These property taxes have a direct impact on homeowners, affecting their annual budget and overall financial planning. In Earl, the highest and lowest median tax bills both stand at $634, specifically in the zip code 28038, reflecting the uniformity in tax assessments within that area. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Earl Tax Bill
$634
Average Cleveland County Tax Bill
$887
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Earl, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28038 | $92 | $242 | $634 | $1,014 | $1,607 |
Source: Ownwell