Ellenboro, North Carolina Property Taxes
The median property tax rate in Ellenboro, NC is 0.86%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Ellenboro at $77,074, the typical annual property tax bill is $656, well below the national median of $2,690. Property taxes in Ellenboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ellenboro'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 Ellenboro 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
Ellenboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$663
$615
Ownwell’s Ellenboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellenboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellenboro 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 Ellenboro, North Carolina
Property taxes in Ellenboro, 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 Ellenboro is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Ellenboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellenboro 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 Ellenboro's effective property tax rate to other areas in Cleveland County and the national median. For comparison, the zip code 28040 has both the highest and lowest median property tax rate in the county, standing at 0.86%. Understanding how these cities compare with Ellenboro 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 Ellenboro Tax Rate
0.86%
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 Ellenboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28040 | 0.44% | 0.80% | 0.86% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Ellenboro, North Carolina
In Ellenboro, 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 in Ellenboro 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 Ellenboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ellenboro are both $656.00, specifically in the zip code 28040.
Property Tax Assessment Values Across Ellenboro, North Carolina
Source: Ownwell
$55,703
$127,552
$199,401
Average Ellenboro Assessed Value
$77,074
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 Ellenboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28040 | $20,298 | $53,225 | $77,074 | $154,586 | $232,089 |
Source: Ownwell
Property Tax Bills Across Ellenboro, North Carolina
In Ellenboro, located in Cleveland County, NC, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the tax bill. For example, with a median home price of $77,074, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $370, while at the 75th percentile, it reaches approximately $1,020. The top 10% of homeowners might see tax bills as high as $1,555. Several factors influence the tax bill, including the home's assessed value and the local tax rate. These factors ensure that property taxes are proportionate to the value of the property, which helps fund essential community services like schools, public safety, and infrastructure. For homeowners in Ellenboro, understanding these elements is crucial for financial planning and managing annual expenses. Comparatively, the local median tax bill of $656 is lower than the national median property tax rate of 0.99%, making it relatively affordable.
Average Ellenboro Tax Bill
$656
Average Cleveland County Tax Bill
$887
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellenboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28040 | $180 | $370 | $656 | $1,020 | $1,555 |
Source: Ownwell