New London, Stanly County, North Carolina Property Taxes
The median property tax rate in New London, NC is 0.69%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value in New London of $117,334, the typical annual property tax bill amounts to $808, significantly below the national median of $2,690. Property taxes in New London are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding New London'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 New London or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New London, Stanly County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$810
$751
Ownwell’s New London Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New London with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New London 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 New London, Stanly County, North Carolina
Property taxes in New London, 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 New London is 0.69%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within New London set these rates annually, and they can vary significantly across different neighborhoods. Each year, New London 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 New London's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28127 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with New London provides valuable insights into the varying tax landscape across Stanly County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New London Tax Rate
0.69%
Average Stanly County Tax Rate
0.76%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across New London, Stanly County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28127 | 0.28% | 0.68% | 0.69% | 0.71% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across New London, Stanly County, North Carolina
In New London, 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 Stanly County Assessor 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 New London, 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 New London helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 28127, both at $808.
Property Tax Assessment Values Across New London, Stanly County, North Carolina
Source: Ownwell
$56,852
$134,651
$212,449
Average New London Assessed Value
$117,334
Average Stanly County Assessed Value
$133,890
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New London, Stanly County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28127 | $45,208 | $73,801 | $117,334 | $176,956 | $274,908 |
Source: Ownwell
Property Tax Bills Across New London, Stanly County, North Carolina
In New London, 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 Stanly County tax assessor and represents the market value of the property. This value is then multiplied by the local property tax rate to calculate the annual tax bill. For example, with a median home price of $117,334, homeowners in New London can expect their property tax bill to vary significantly. At the 25th percentile, homeowners might pay around $476, while those at the 75th percentile could see bills as high as $1,296. The top 10% of tax bills can reach up to $1,951. Compared to the national median property tax rate of 0.99%, New London's rates offer a relatively moderate range. These tax bills can impact homeowners by influencing their overall cost of living and affecting decisions related to property investments and homeownership.
Average New London Tax Bill
$808
Average Stanly County Tax Bill
$1,079
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across New London, Stanly County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28127 | $233 | $476 | $808 | $1,296 | $1,951 |
Source: Ownwell