Norwood, Stanly County, North Carolina Property Taxes
Median Norwood, NC effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but lower than the NC state median of 0.82%.
Median Norwood, NC home value: $131,764
Median annual Norwood, NC tax bill: $990, $1,410 lower than the national median property tax bill of $2,400.
How are property taxes in Stanly calculated?
Property taxes in Norwood, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Norwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Norwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Norwood, Stanly County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.71%
Estimate Property Tax Bill
$936
$868
Property Tax Rates Across Norwood, Stanly County, North Carolina
Local government entities determine tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates its budgetary needs to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in essence.
In Norwood, located in Stanly County, North Carolina, the effective property tax rate is a key figure for property owners to consider. Comparing Norwood's tax rate with other cities in North Carolina and the median property tax rates in the state and the U.S. can provide valuable insights. North Carolina's median property tax rate is notably lower than the national median of 1.02%. This makes Norwood an attractive location for property investment, as lower property tax rates can lead to reduced annual expenses for homeowners and investors alike. Understanding these rates is crucial for making informed decisions about property ownership and investment in the area.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Norwood Tax Rate
0.71%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Stanly County Tax Rate
0.76%
Median Effective North Carolina Tax Rate
0.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Norwood, Stanly County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28128 | 0.31% | 0.71% | 0.71% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Norwood, Stanly County, North Carolina
When examining property taxes in Norwood, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Stanly County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Stanly County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Norwood.
For example, the median home price in Norwood is $131,764, with tax bills ranging significantly across the county. Zip code 28128 has the highest median home price at $131,764.
Property Tax Assessment Values Across Norwood, Stanly County, North Carolina
Source: Ownwell
$56,852
$134,651
$212,449
Median Norwood Market Value
$131,764
Median Stanly County Market Value
$133,890
Median North Carolina Market Value
$197,136
Median United States Market Value
$235,294
Property Tax Assessment Values Across Norwood, Stanly County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28128 | $41,657 | $72,627 | $131,764 | $258,053 | $400,636 |
Source: Ownwell
Property Tax Bills Across Norwood, Stanly County, North Carolina
In Norwood, Stanly County, NC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, which is influenced by factors such as location, property size, and improvements. The median home price in Norwood is $131,764, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $525, while the 75th percentile reaches $1,937, and the 90th percentile goes up to $3,354. These figures compare to the national median property tax bill of $2,400, indicating some homeowners in Norwood may pay significantly less, while others pay more.
Homeowners in Norwood can benefit from Ownwell's services to potentially lower their property tax bills. By analyzing property assessments and identifying inaccuracies or overvaluations, Ownwell can assist homeowners in filing appeals or applying for exemptions, ensuring they only pay their fair share. This can lead to substantial savings and increased financial stability for homeowners.
Median Norwood Tax Bill
$990
Median Stanly County Tax Bill
$1,079
Median North Carolina Tax Bill
$1,615
Median United States Tax Bill
$2,400
Property Tax Bills Across Norwood, Stanly County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28128 | $246 | $525 | $990 | $1,937 | $3,354 |
Source: Ownwell