Cooleemee, North Carolina Property Taxes
The median property tax rate in Cooleemee, NC is 1.44%, 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 Cooleemee, the typical annual property tax bill reaches $848, which is below the national median of $2,690. Property taxes in Cooleemee 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 Cooleemee'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 Cooleemee or another part of Davie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cooleemee, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$859
-$9,003
Ownwell’s Cooleemee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cooleemee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cooleemee 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 Cooleemee, North Carolina
Property taxes in Cooleemee, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cooleemee is 1.44%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Cooleemee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cooleemee 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 Cooleemee's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27014 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these cities compare with Cooleemee provides valuable insights into the varying tax landscape across Davie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cooleemee Tax Rate
1.44%
Average Davie County Tax Rate
0.77%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cooleemee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27014 | 1.31% | 1.38% | 1.44% | 1.50% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Cooleemee, North Carolina
In Cooleemee, 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 Davie 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 Cooleemee, 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 Cooleemee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27014 has both the highest and lowest median tax bill at $848, indicating a uniformity in tax assessments within the region.
Property Tax Assessment Values Across Cooleemee, North Carolina
Source: Ownwell
$59,660
$152,730
$245,800
Average Cooleemee Assessed Value
$59,660
Average Davie County Assessed Value
$176,350
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cooleemee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27014 | $41,360 | $48,300 | $59,660 | $74,600 | $104,588 |
Source: Ownwell
Property Tax Bills Across Cooleemee, North Carolina
In Cooleemee, located in Davie County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Cooleemee can expect their property tax bills to fall between $705 at the 25th percentile and $1,395 at the 90th percentile, with the median home price being $59,660. The highest and lowest median tax bills in the area are both $848, which is below the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, understanding these factors is crucial as they directly impact the amount owed annually. Lower property tax bills in Cooleemee can make homeownership more affordable compared to regions with higher tax rates, potentially attracting new residents and fostering community growth.
Average Cooleemee Tax Bill
$848
Average Davie County Tax Bill
$1,442
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cooleemee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27014 | $556 | $705 | $848 | $1,024 | $1,395 |
Source: Ownwell