New Smyrna Beach, North Carolina Property Taxes
The median property tax rate in New Smyrna Beach, NC is 0.40%, 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 $175,900 in New Smyrna Beach, the typical annual property tax bill is approximately $704, which is well below the national median of $2,690. Property taxes in New Smyrna Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding New Smyrna Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of New Smyrna Beach 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
New Smyrna Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$704
Ownwell’s New Smyrna Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Smyrna Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Smyrna Beach 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 New Smyrna Beach, North Carolina
Property taxes in New Smyrna Beach, 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 New Smyrna Beach is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within New Smyrna Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Smyrna Beach 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 New Smyrna Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 32168 has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these areas compare with New Smyrna Beach 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 New Smyrna Beach 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 New Smyrna Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32168 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across New Smyrna Beach, North Carolina
In New Smyrna Beach, 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 Avery County 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 New Smyrna Beach, 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 New Smyrna Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $175,900, with the highest and lowest median tax bills both being $704 in the 32168 zip code.
Property Tax Assessment Values Across New Smyrna Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average New Smyrna Beach Assessed Value
$175,900
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 New Smyrna Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32168 | $175,900 | $175,900 | $175,900 | $175,900 | $175,900 |
Source: Ownwell
Property Tax Bills Across New Smyrna Beach, North Carolina
In New Smyrna Beach, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value reflects the market value of the property, and the tax rate is applied to this value to calculate the annual property tax bill. For homeowners in New Smyrna Beach, the median home price is $175,900. The tax bills in this area show little variation, with the 25th, 75th, and 90th percentiles all at $704. This uniformity suggests a consistent application of the tax rate across different property values. Compared to the national median property tax rate of 0.99%, the effective tax rate in New Smyrna Beach is relatively modest, providing some financial relief to homeowners. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners benefit from understanding these factors, as they can impact annual tax obligations and overall housing affordability.
Average New Smyrna Beach Tax Bill
$704
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across New Smyrna Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32168 | $704 | $704 | $704 | $704 | $704 |
Source: Ownwell