Polkville, North Carolina Property Taxes
The median property tax rate in Polkville, NC is 0.89%, which is lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $89,088 in Polkville, the typical annual property tax bill is around $786, significantly below the national median of $2,690. Property taxes in Polkville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Polkville's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Polkville or another part of Cleveland County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Polkville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$793
$736
Ownwell’s Polkville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Polkville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Polkville 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 Polkville, North Carolina
Property taxes in Polkville, 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 Polkville is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Polkville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Polkville 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 Polkville's effective property tax rate to other areas in Cleveland County and the national median. For comparison, the zip code 28136 has both the highest and lowest median property tax rate of 0.89%. Understanding how these areas compare with Polkville 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 Polkville Tax Rate
0.89%
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 Polkville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28136 | 0.70% | 0.84% | 0.89% | 0.95% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Polkville, North Carolina
In Polkville, 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 Polkville, 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 Polkville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28136 has both the highest and lowest median tax bill at $786, reflecting the median home price of $89,088.
Property Tax Assessment Values Across Polkville, North Carolina
Source: Ownwell
$55,703
$127,552
$199,401
Average Polkville Assessed Value
$89,088
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 Polkville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28136 | $16,052 | $44,740 | $89,088 | $158,632 | $203,774 |
Source: Ownwell
Property Tax Bills Across Polkville, North Carolina
In Polkvillle, Cleveland County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is intended to reflect the market value of the property. Homeowners in Polkvillle can expect their property tax bills to vary significantly based on the value of their homes. The median home price in Polkvillle is $89,088, with property tax bills ranging from $380 at the 25th percentile to $1,570 at the 90th percentile. The highest and lowest median tax bills are both $786, reflecting a uniformity in certain areas of the city. Compared to the national median property tax rate of 0.99%, Polkvillle’s property tax rates can be considered moderate. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Polkville Tax Bill
$786
Average Cleveland County Tax Bill
$887
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Polkville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28136 | $133 | $380 | $786 | $1,371 | $1,570 |
Source: Ownwell