Statesville, North Carolina Property Taxes
The median property tax rate in Statesville, NC is 0.77%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Statesville at $178,790, the typical annual property tax bill is approximately $1,344, significantly below the national median of $2,690. Property taxes in Statesville 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 Statesville'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 Statesville 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
Statesville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,377
-$14,428
Ownwell’s STATESVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STATESVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STATESVILLE 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 Statesville, North Carolina
Property taxes in Statesville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Statesville is 0.77%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Statesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Statesville 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 Statesville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28625 zip code has the median property tax rate of 0.77%. Understanding how these cities compare with Statesville 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 Statesville Tax Rate
0.77%
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 Statesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28625 | 0.72% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Statesville, North Carolina
In Statesville, 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 Statesville, 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 Statesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 28625, at $1,344, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Statesville, North Carolina
Source: Ownwell
$59,660
$152,730
$245,800
Average Statesville Assessed Value
$178,790
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 Statesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28625 | $66,684 | $82,265 | $178,790 | $275,645 | $566,494 |
Source: Ownwell
Property Tax Bills Across Statesville, North Carolina
Property tax bills in Statesville, NC, are calculated based on the assessed value of a home and the local tax rate. The median home price in Statesville is $178,790. Homeowners in this area can expect a property tax bill that varies significantly depending on the value of their property. For instance, those in the 25th percentile typically see bills around $636, while those in the 75th percentile face bills closer to $1,816. At the higher end, in the 90th percentile, property tax bills can reach up to $2,944. The assessed value of a home is a crucial factor in determining the tax bill. This value is derived from the market value but may be subject to local adjustments. Comparatively, the highest and lowest median tax bills in Statesville both stand at $1,344, indicating some uniformity in tax assessments within certain areas. Homeowners should be aware that these property taxes fund essential local services, impacting the overall cost of homeownership.
Average Statesville Tax Bill
$1,344
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 Statesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28625 | $515 | $636 | $1,344 | $1,816 | $2,944 |
Source: Ownwell