Lakeview, North Carolina Property Taxes
The median property tax rate in Lakeview, NC, is 0.45%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Lakeview at $151,315, the typical annual property tax bill is $688, well below the national median of $2,690. Property taxes in Lakeview 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 Lakeview'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 Lakeview 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
Lakeview, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$681
Ownwell’s Lakeview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeview 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 Lakeview, North Carolina
Property taxes in Lakeview, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeview is 0.45%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Lakeview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeview 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 Lakeview's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28350 zip code has the highest median property tax rate of 0.45%, while the 28350 zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Lakeview provides valuable insights into the varying tax landscape across Moore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeview Tax Rate
0.45%
Average Moore County Tax Rate
0.60%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28350 | 0.25% | 0.45% | 0.45% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Lakeview, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lakeview, 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 Moore 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 Lakeview, 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. For example, the median home price in Lakeview is $151,315, with tax bills ranging from $484 at the 25th percentile to $1,892 at the 90th percentile. The highest median tax bill is $688 in the 28350 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lakeview, North Carolina
Source: Ownwell
$45,070
$261,150
$477,230
Average Lakeview Assessed Value
$151,315
Average Moore County Assessed Value
$305,820
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28350 | $117,433 | $127,245 | $151,315 | $249,465 | $415,826 |
Source: Ownwell
Property Tax Bills Across Lakeview, North Carolina
In Lakeview, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Moore County. The assessed value is determined by the county assessor and reflects the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to determine your annual property tax bill. For instance, with a median home price of $151,315 in Lakeview, the property tax rate is applied to this value to calculate the tax bill. Homeowners in the 25th percentile can expect a tax bill around $484, while those in the 75th percentile might see bills closer to $1,135. For the top 10% of property values, tax bills can reach up to $1,892 annually. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. While the median tax bill in Lakeview is $688, this figure can vary significantly depending on the specific assessed value of individual properties, impacting homeowners' annual expenses.
Average Lakeview Tax Bill
$688
Average Moore County Tax Bill
$1,694
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28350 | $311 | $484 | $688 | $1,135 | $1,892 |
Source: Ownwell