Statesville, North Carolina Property Taxes
The median property tax rate in Statesville, NC is 0.64%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $176,145 in Statesville, the typical annual property tax bill amounts to $1,207, well below the national median of $2,690. Property taxes in Statesville are determined based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Statesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're residing in the heart of Statesville or another area within the city, familiarizing yourself with 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
0.64%
Estimate Property Tax Bill
$1,127
$1,046
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 0.64%, 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 28677 zip code has the highest median property tax rate of 0.75%, while the 28625 zip code has the lowest median tax rate of 0.62%. Understanding how these cities compare with Statesville provides valuable insights into the varying tax landscape across Iredell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Statesville Tax Rate
0.64%
Average Iredell County Tax Rate
0.64%
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 | 0.59% | 0.61% | 0.62% | 0.69% | 1.04% |
| 28677 | 0.60% | 0.62% | 0.75% | 1.05% | 1.09% |
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 Iredell 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. Statesville's highest median tax bill is $1,208 in the 28625 zip code, while the lowest is $1,206 in the 28677 zip code. Being aware of these valuation processes in Statesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Statesville, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Statesville Assessed Value
$176,145
Average Iredell County Assessed Value
$268,560
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 | $44,320 | $110,440 | $192,020 | $284,210 | $393,260 |
| 28677 | $40,630 | $85,855 | $158,840 | $261,565 | $384,010 |
Source: Ownwell
Property Tax Bills Across Statesville, North Carolina
In Statesville, 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 Iredell County tax assessor, who evaluates the market value of the property. Homeowners in Statesville pay a median property tax rate of 0.99%, which aligns with the national median. For example, with the median home price at $176,145, a typical homeowner might expect a tax bill around $1,743 annually. However, tax bills can vary significantly. At the 25th percentile, homeowners might pay as low as $672, while those at the 75th percentile could see bills up to $1,988. The highest median tax bill in the area is $1,208 in zip code 28625, slightly higher than the lowest median tax bill of $1,206 in zip code 28677. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life and property values in the community.
Average Statesville Tax Bill
$1,207
Average Iredell County Tax Bill
$2,001
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 | $288 | $675 | $1,208 | $1,897 | $2,747 |
| 28677 | $317 | $669 | $1,206 | $2,099 | $3,301 |
Source: Ownwell