Lemon Springs, North Carolina Property Taxes
The median property tax rate in Lemon Springs, NC is 0.82%, aligning with the state median but lower than the national median of 0.99%. With the median home value in Lemon Springs at $148,100, the typical annual property tax bill is around $1,213, significantly below the national median of $2,690. Property taxes in Lemon Springs are calculated based on the tax assessed value, which tends to be lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lemon Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lemon Springs or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lemon Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,214
$1,127
Ownwell’s Lemon Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lemon Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lemon Springs 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 Lemon Springs, North Carolina
Property taxes in Lemon Springs, 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 Lemon Springs is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Lemon Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lemon Springs 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 Lemon Springs' effective property tax rate to other areas in Lee County and the national median. For comparison, the zip code 28355 has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these rates compare with Lemon Springs provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lemon Springs Tax Rate
0.82%
Average Lee County Tax Rate
0.85%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lemon Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28355 | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Lemon Springs, North Carolina
In Lemon Springs, 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 Lee 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 Lemon Springs, 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 Lemon Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lemon Springs is $148,100, and the median tax bill is $1,213, consistent across zip code 28355.
Property Tax Assessment Values Across Lemon Springs, North Carolina
Source: Ownwell
$31,500
$113,250
$195,000
Average Lemon Springs Assessed Value
$148,100
Average Lee County Assessed Value
$171,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lemon Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28355 | $148,100 | $148,100 | $148,100 | $148,100 | $148,100 |
Source: Ownwell
Property Tax Bills Across Lemon Springs, North Carolina
In Lemon Springs, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Lee County tax assessor. The assessed value is a percentage of the market value of the property. The tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $148,100, homeowners in Lemon Springs can expect a median tax bill of approximately $1,213. This figure remains consistent across various percentiles, indicating a stable and predictable tax environment. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. This assessed value is crucial as it directly impacts the amount homeowners will pay in property taxes. Compared to the national median property tax rate of 0.99%, Lemon Springs offers a competitive rate, making it an attractive location for homeowners looking for affordability and predictability in their property tax obligations.
Average Lemon Springs Tax Bill
$1,213
Average Lee County Tax Bill
$1,542
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lemon Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28355 | $1,213 | $1,213 | $1,213 | $1,213 | $1,213 |
Source: Ownwell