Glade Valley, North Carolina Property Taxes
The median property tax rate in Glade Valley, NC is 0.68%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Glade Valley at $218,700, the typical annual property tax bill reaches $1,400, which is also below the national median of $2,690. Property taxes in Glade Valley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Glade Valley'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 Glade Valley or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glade Valley, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,487
Ownwell’s Glade Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glade Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glade Valley 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 Glade Valley, North Carolina
Property taxes in Glade Valley, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glade Valley is 0.68%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Glade Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glade Valley 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 Glade Valley's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28627 has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Glade Valley provides valuable insights into the varying tax landscape across Alleghany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glade Valley Tax Rate
0.68%
Average Alleghany County Tax Rate
0.70%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glade Valley, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28627 | 0.53% | 0.65% | 0.68% | 0.72% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Glade Valley, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Glade Valley, 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 Alleghany 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 Glade Valley, 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. The median home price in Glade Valley is $218,700, with property tax bills ranging from $849 at the 25th percentile to $4,705 at the 90th percentile. The highest and lowest median tax bills are both $1,400 in zip code 28627. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Glade Valley, North Carolina
Source: Ownwell
$117,900
$168,300
$218,700
Average Glade Valley Assessed Value
$218,700
Average Alleghany County Assessed Value
$157,000
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glade Valley, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28627 | $75,900 | $124,900 | $218,700 | $364,200 | $761,100 |
Source: Ownwell
Property Tax Bills Across Glade Valley, North Carolina
In Glade Valley, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is a percentage of the property's market value, reflecting what the home might sell for under current market conditions. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence this calculation, including the median home price in the area, which stands at $218,700. Homeowners in Glade Valley can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $849, while those in the 75th percentile pay approximately $2,242. At the higher end, the 90th percentile tax bill reaches up to $4,705. These tax bills significantly impact homeowners, as they must be budgeted for annually. Compared to the national median property tax rate of 0.99%, Glade Valley's property tax rates reflect local economic conditions and the county's budgetary needs.
Average Glade Valley Tax Bill
$1,400
Average Alleghany County Tax Bill
$1,019
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Glade Valley, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28627 | $520 | $849 | $1,400 | $2,242 | $4,705 |
Source: Ownwell