Stonewall, North Carolina Property Taxes
The median property tax rate in Stonewall, NC is 0.78%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $77,662 in Stonewall, the typical annual property tax bill amounts to $593, significantly less than the national median of $2,690. Property taxes in Stonewall 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 Stonewall'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 Stonewall 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
Stonewall, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$606
$562
Ownwell’s Stonewall Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stonewall with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Stonewall to project your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is the figure determined by the county for property tax purposes, taking into consideration any applicable exemptions.
Property Tax Rates Across Stonewall, North Carolina
Property taxes in Stonewall, 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 Stonewall is 0.78%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Stonewall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stonewall 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 Stonewall's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28583 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these areas compare with Stonewall provides valuable insights into the varying tax landscape across Pamlico County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stonewall Tax Rate
0.78%
Average Pamlico County Tax Rate
0.69%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stonewall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28583 | 0.77% | 0.77% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Stonewall, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stonewall, 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 local 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. 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 Stonewall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Stonewall, the highest median tax bill is $593.00 in zip code 28583, which is also the lowest median tax bill, highlighting a consistent tax environment in the area.
Property Tax Assessment Values Across Stonewall, North Carolina
Source: Ownwell
$7,506
$116,946
$226,386
Average Stonewall Assessed Value
$77,662
Average Pamlico County Assessed Value
$145,305
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stonewall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28583 | $16,082 | $54,890 | $77,662 | $142,400 | $231,009 |
Source: Ownwell
Property Tax Bills Across Stonewall, North Carolina
In Stonewall, located in Pamlico County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $77,662. Local tax authorities determine the assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. For Stonewall, the property tax rate is higher than the national median of 0.99%, resulting in varying tax bills across different percentiles. For instance, the 25th percentile tax bill is $390, while the 75th percentile reaches $1,095. At the 90th percentile, homeowners may see bills as high as $1,625. Factors influencing the tax bill include property size, location, and improvements. Higher assessed values lead to increased tax obligations, impacting homeowners' budgets significantly. Understanding these factors helps homeowners anticipate their annual financial commitments and plan accordingly. The highest and lowest median tax bills in the county are both $593, indicating some consistency in tax assessments within certain areas.
Average Stonewall Tax Bill
$593
Average Pamlico County Tax Bill
$1,045
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Stonewall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28583 | $79 | $390 | $593 | $1,095 | $1,625 |
Source: Ownwell