Stony Point, North Carolina Property Taxes
The median property tax rate in Stony Point, NC is 0.62%, 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 $146,790, the typical annual property tax bill in Stony Point is $822, which is well below the national median of $2,690. Property taxes in Stony Point are calculated based on the assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stony Point'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 Stony Point or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stony Point, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$910
$845
Ownwell’s Stony Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stony Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stony Point 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 Stony Point, North Carolina
Property taxes in Stony Point, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stony Point is 0.62%, lower than the U.S. national median of 0.99%. Local government entities within Stony Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stony Point 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 Stony Point's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28678 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Stony Point 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 Stony Point Tax Rate
0.62%
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 Stony Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28678 | 0.41% | 0.59% | 0.62% | 0.64% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Stony Point, North Carolina
In Stony Point, 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 Stony Point, 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 Stony Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28678 has the highest median tax bill at $822.00.
Property Tax Assessment Values Across Stony Point, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Stony Point Assessed Value
$146,790
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 Stony Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28678 | $22,470 | $72,375 | $146,790 | $276,500 | $444,720 |
Source: Ownwell
Property Tax Bills Across Stony Point, North Carolina
In Stony Point, NC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the Iredell County tax assessor and is typically a percentage of the market value of the home. For example, with a median home price of $146,790, the assessed value forms the basis on which the tax rate is applied. The local tax rate in Iredell County then determines the final tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. Homeowners in Stony Point can expect their tax bills to vary, with the 25th percentile paying around $424, while those in the 75th percentile might see bills up to $1,494. The highest median tax bill recorded in the area is $822, which is relatively moderate compared to the national median property tax rate of 0.99%. These taxes are essential for funding local services, including schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Stony Point Tax Bill
$822
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 Stony Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28678 | $148 | $424 | $822 | $1,494 | $2,317 |
Source: Ownwell