Cedar Mountain, North Carolina Property Taxes
The median property tax rate in Cedar Mountain, NC, is 0.66%, 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 $182,390 in Cedar Mountain, the typical annual property tax bill is $1,160, which is below the national median of $2,690. Property taxes in Cedar Mountain are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cedar Mountain's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cedar Mountain or another part of Transylvania County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cedar Mountain, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,204
Ownwell’s Cedar Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Mountain 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 Cedar Mountain, North Carolina
Property taxes in Cedar Mountain, 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 Mountain is 0.66%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Cedar Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Mountain 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 Mountain's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28718 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Cedar Mountain provides valuable insights into the varying tax landscape across Transylvania County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Mountain Tax Rate
0.66%
Average Transylvania County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Mountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28718 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Mountain, North Carolina
In Cedar Mountain, 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 Transylvania 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 Mountain, 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 Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $182,390, with tax bills ranging from $801 at the 25th percentile to $3,063 at the 90th percentile. Interestingly, the zip code 28718 holds both the highest and lowest median tax bill, each at $1,160.
Property Tax Assessment Values Across Cedar Mountain, North Carolina
Source: Ownwell
$116,555
$185,613
$254,670
Average Cedar Mountain Assessed Value
$182,390
Average Transylvania County Assessed Value
$218,910
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Mountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28718 | $84,855 | $126,332 | $182,390 | $291,222 | $505,000 |
Source: Ownwell
Property Tax Bills Across Cedar Mountain, North Carolina
In Cedar Mountain, located in Transylvania County, 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 property's market value. Cedar Mountain's median home price is $182,390, which serves as a baseline for many tax calculations. Homeowners in this area experience a range of tax bills. For instance, the 25th percentile tax bill is $801, while those in the 75th percentile pay around $1879. At the higher end, the 90th percentile tax bill can reach up to $3063. These variations depend on the property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Cedar Mountain’s tax rates can seem relatively moderate. However, the impact on homeowners can still be significant, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Cedar Mountain Tax Bill
$1,160
Average Transylvania County Tax Bill
$1,388
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Mountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28718 | $473 | $801 | $1,160 | $1,879 | $3,063 |
Source: Ownwell