Asheville, North Carolina Property Taxes
The median property tax rate in Asheville, NC is 0.40%, 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 Asheville, the typical annual property tax bill reaches $537, significantly below the national median of $2,690. Property taxes in Asheville 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 Asheville'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 Asheville 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
Asheville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$591
Ownwell’s Asheville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Asheville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Asheville 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 Asheville, North Carolina
Property taxes in Asheville, 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 Asheville is 0.40%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Asheville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Asheville 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 Asheville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28801 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Asheville provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Asheville Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Asheville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28801 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28802 | N/A | N/A | N/A | N/A | N/A |
| 28803 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Asheville, North Carolina
In Asheville, 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 Avery 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 Asheville, 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 Asheville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the city is $2,996 in the 28803 zip code, while the lowest is $483 in the 28801 zip code.
Property Tax Assessment Values Across Asheville, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Asheville Assessed Value
$147,800
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Asheville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28801 | $78,460 | $120,700 | $147,800 | $356,100 | $525,360 |
| 28802 | N/A | N/A | N/A | N/A | N/A |
| 28803 | $749,000 | $749,000 | $749,000 | $749,000 | $749,000 |
Source: Ownwell
Property Tax Bills Across Asheville, North Carolina
In Asheville, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For example, in Asheville, the median home price is $147,800, and property tax bills can range significantly. Homeowners in the 25th percentile pay about $412 annually, while those in the 75th percentile pay around $1,192. The 90th percentile sees tax bills as high as $2,275. Notably, the highest median tax bill in the area is $2,996 in ZIP code 28803, whereas the lowest median tax bill is $483 in ZIP code 28801. Compared to the national median property tax rate of 0.99%, Asheville homeowners experience a diverse range of tax obligations, which can significantly impact their financial planning and homeownership costs.
Average Asheville Tax Bill
$537
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Asheville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28801 | $258 | $342 | $483 | $537 | $570 |
| 28802 | N/A | N/A | N/A | N/A | N/A |
| 28803 | $2,996 | $2,996 | $2,996 | $2,996 | $2,996 |
Source: Ownwell