Tavernier, North Carolina Property Taxes
The median property tax rate in Tavernier, NC is 0.40%, 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 Tavernier at $631,900, the typical annual property tax bill amounts to $2,528, which is below the national median of $2,690. Property taxes in Tavernier 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 Tavernier'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 Tavernier or another part of Avery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tavernier, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$2,528
Ownwell’s Tavernier Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Tavernier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tavernier 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 Tavernier, North Carolina
Property taxes in Tavernier, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tavernier is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Tavernier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tavernier 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 Tavernier's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 33070 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Tavernier 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 Tavernier 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 Tavernier, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33070 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Tavernier, North Carolina
In Tavernier, 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 Tavernier, 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 Tavernier helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $2,528 in the 33070 zip code.
Property Tax Assessment Values Across Tavernier, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Tavernier Assessed Value
$631,900
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 Tavernier, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33070 | $631,900 | $631,900 | $631,900 | $631,900 | $631,900 |
Source: Ownwell
Property Tax Bills Across Tavernier, North Carolina
In Tavernier, Avery 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 Tavernier is $631,900, and the property tax rate is applied to this assessed value to determine the tax bill. Factors that influence the assessed value include the home's market value, location, and any improvements or renovations made. Homeowners in Tavernier can expect their tax bills to be around $2,528, which is consistent across different percentiles, indicating a uniform tax rate application. This amount is notably lower than the national median property tax rate of 0.99%, making Tavernier an attractive location for homeowners looking for lower property taxes. The consistent tax bill across various percentiles suggests a stable and predictable tax environment, which can be beneficial for budgeting and financial planning. Lower property taxes can also make homeownership more affordable, potentially increasing the appeal of living in Tavernier.
Average Tavernier Tax Bill
$2,528
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Tavernier, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33070 | $2,528 | $2,528 | $2,528 | $2,528 | $2,528 |
Source: Ownwell