Stovall, North Carolina Property Taxes
The median property tax rate in Stovall, NC is 1.43%, significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $56,307 in Stovall, the typical annual property tax bill amounts to $768, which is below the national median of $2,690. Property taxes in Stovall 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 Stovall's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Stovall 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
Stovall, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$805
$747
Ownwell’s Stovall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stovall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stovall 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 Stovall, North Carolina
Property taxes in Stovall, 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 Stovall is 1.43%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Stovall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stovall 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 Stovall's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27582 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Stovall provides valuable insights into the varying tax landscape across Granville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stovall Tax Rate
1.43%
Average Granville County Tax Rate
1.00%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stovall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27582 | 1.39% | 1.41% | 1.43% | 1.48% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Stovall, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stovall, North Carolina. 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 Granville 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 Stovall, 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 Stovall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 27582, both at $768.
Average Stovall Assessed Value
$56,307
Average Granville County Assessed Value
$137,588
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stovall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27582 | $21,847 | $33,832 | $56,307 | $82,079 | $128,660 |
Source: Ownwell
Property Tax Bills Across Stovall, North Carolina
In Stovall, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Granville County tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Stovall typically pay an annual property tax bill that varies within a range, with the 25th percentile at $483 and the 75th percentile at $1,159. For those in the 90th percentile, tax bills can reach up to $1,797. The median home price in Stovall is $56,307, and the median property tax bill stands at $768, which is relatively lower compared to the national median property tax rate of 0.99%. Factors influencing the tax bill include property size, location, and any applicable exemptions or reductions. This system ensures that property tax contributions are proportionate to the property's value, impacting homeowners by tying their tax obligations directly to the assessed value of their homes.
Average Stovall Tax Bill
$768
Average Granville County Tax Bill
$1,476
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Stovall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27582 | $304 | $483 | $768 | $1,159 | $1,797 |
Source: Ownwell