Cedar Grove, North Carolina Property Taxes
The median property tax rate in Cedar Grove, NC is 0.60%, 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 $245,041 in Cedar Grove, the typical annual property tax bill amounts to $1,197, which is also below the national median of $2,690. Property taxes in Cedar Grove are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cedar Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Cedar Grove 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
Cedar Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,470
$1,364
Ownwell’s Cedar Grove Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cedar Grove with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Cedar Grove to provide an estimated property tax bill. This tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed insights, scrolling down will reveal trends and localized information at the neighborhood level. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Cedar Grove, North Carolina
Property taxes in Cedar Grove, 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 Cedar Grove is 0.60%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Cedar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Grove 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 Cedar Grove's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27231 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Cedar Grove provides valuable insights into the varying tax landscape across Person County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Grove Tax Rate
0.60%
Average Person County Tax Rate
0.78%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | 0.25% | 0.36% | 0.60% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Grove, North Carolina
In Cedar Grove, 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 Person 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 Cedar Grove, 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 Cedar Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Cedar Grove is $245,041, with tax bills ranging from $988 at the 25th percentile to $1,760 at the 90th percentile. The highest and lowest median tax bills are both $1,197 in the 27231 zip code.
Property Tax Assessment Values Across Cedar Grove, North Carolina
Source: Ownwell
$30,302
$365,281
$700,260
Average Cedar Grove Assessed Value
$245,041
Average Person County Assessed Value
$122,004
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | $176,548 | $212,740 | $245,041 | $264,215 | $276,777 |
Source: Ownwell
Property Tax Bills Across Cedar Grove, North Carolina
In Cedar Grove, 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 county assessor, who evaluates the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. For instance, with a median home price of $245,041, homeowners in Cedar Grove typically see tax bills ranging from $988 at the 25th percentile to $1,760 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Cedar Grove's tax rates can be seen as relatively moderate. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners budget accordingly and anticipate any changes in their annual expenses.
Average Cedar Grove Tax Bill
$1,197
Average Person County Tax Bill
$1,008
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27231 | $636 | $988 | $1,197 | $1,406 | $1,760 |
Source: Ownwell