Grassy Creek, North Carolina Property Taxes
The median property tax rate in Grassy Creek, NC is 0.71%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Grassy Creek at $176,200, the typical annual property tax bill is $1,252, well below the national median of $2,690. Property taxes in Grassy Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grassy Creek'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 Grassy Creek or another part of Alleghany County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grassy Creek, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,251
Ownwell’s Grassy Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grassy Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grassy Creek 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 Grassy Creek, North Carolina
Property taxes in Grassy Creek, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grassy Creek is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Grassy Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grassy Creek 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 Grassy Creek's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28631 has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these numbers compare with Grassy Creek 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 Grassy Creek Tax Rate
0.71%
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 Grassy Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28631 | 0.68% | 0.70% | 0.71% | 0.72% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Grassy Creek, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Grassy Creek, NC. 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 local appraisal authorities 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 Grassy Creek, 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 Grassy Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1252, found in zip code 28631.
Property Tax Assessment Values Across Grassy Creek, North Carolina
Source: Ownwell
$117,900
$168,300
$218,700
Average Grassy Creek Assessed Value
$176,200
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 Grassy Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28631 | $119,700 | $146,500 | $176,200 | $228,000 | $318,000 |
Source: Ownwell
Property Tax Bills Across Grassy Creek, North Carolina
In Grassy Creek, located in Alleghany County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this region is $176,200, which serves as a significant factor in determining the tax bill. The assessed value is typically a percentage of the market value, and the local tax rate is applied to this assessed value to calculate the annual property tax bill. Homeowners in Grassy Creek can expect property tax bills that vary depending on the value of their property. For instance, those in the 25th percentile pay around $1,043 annually, while those in the 75th percentile face bills closer to $1,550. At the 90th percentile, the tax bill can go up to $2,154. The highest and lowest median tax bills in the area are both $1,252, indicating a relatively stable tax environment. Comparatively, the national median property tax rate is 0.99%, which helps put Grassy Creek's tax rates into perspective for homeowners. Understanding these factors can help residents better anticipate their property tax obligations and plan accordingly.
Average Grassy Creek Tax Bill
$1,252
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 Grassy Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28631 | $859 | $1,043 | $1,252 | $1,550 | $2,154 |
Source: Ownwell