Wade, Cumberland County, North Carolina Property Taxes
The median property tax rate in Wade, NC is 1.13%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Wade, the typical annual property tax bill reaches $1,255, still below the national median of $2,690. Property taxes in Wade are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wade'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 Wade 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
Wade, Cumberland County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,349
$1,252
Ownwell’s Wade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wade 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 Wade, Cumberland County, North Carolina
Property taxes in Wade, North Carolina, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wade is 1.13%, which is notably higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Wade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wade 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 Wade's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28395 zip code has the highest median property tax rate of 1.13%, while the same zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Wade provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wade Tax Rate
1.13%
Average Cumberland County Tax Rate
1.48%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wade, Cumberland County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28395 | 0.71% | 1.00% | 1.13% | 1.30% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Wade, Cumberland County, North Carolina
In Wade, 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 Cumberland County Assessor 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 Wade 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. The median home price in Wade is $119,356, with tax bills ranging from $677 at the 25th percentile to $2,811 at the 90th percentile. The highest and lowest median tax bills, both $1,255, are found in the 28395 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Wade, Cumberland County, North Carolina
Source: Ownwell
$61,026
$105,235
$149,444
Average Wade Assessed Value
$119,356
Average Cumberland County Assessed Value
$115,098
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wade, Cumberland County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28395 | $26,081 | $60,352 | $119,356 | $214,213 | $284,270 |
Source: Ownwell
Property Tax Bills Across Wade, Cumberland County, North Carolina
In Wade, located in Cumberland County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value reflects the market value of the property, which in Wade has a median home price of $119,356. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. Homeowners in Wade can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $677, while at the 75th percentile, it rises to $2185. The highest median tax bill recorded in the area is $1255, which aligns with the national median property tax rate of 0.99%. These property taxes are crucial for funding local services, including schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Wade Tax Bill
$1,255
Average Cumberland County Tax Bill
$1,668
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Wade, Cumberland County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28395 | $308 | $677 | $1,255 | $2,185 | $2,811 |
Source: Ownwell