Vero Beach, North Carolina Property Taxes
The median property tax rate in Vero Beach, North Carolina 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 $16,300 in Vero Beach, the typical annual property tax bill is $65, far below the national median of $2,690. Property taxes in Vero 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 Vero 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 Vero Beach or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vero Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$65
Ownwell’s Vero Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vero Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vero 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 Vero Beach, North Carolina
Property taxes in Vero Beach, North Carolina, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Vero 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 Vero Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vero 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 Vero Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 32968 has both the highest and lowest median property tax rate in the area, which is 0.40%. Understanding how these areas compare with Vero 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 Vero 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 Vero Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32963 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 32968 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Vero Beach, North Carolina
In Vero 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 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 Vero 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 Vero Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 32963 has the highest median tax bill of $3,778, while other areas may differ significantly.
Property Tax Assessment Values Across Vero Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Vero Beach Assessed Value
$16,300
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 Vero Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32963 | $944,400 | $944,400 | $944,400 | $944,400 | $944,400 |
| 32968 | $15,670 | $15,775 | $15,950 | $16,125 | $16,230 |
Source: Ownwell
Property Tax Bills Across Vero Beach, North Carolina
In Vero Beach, located in Avery County, NC, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by the county assessor. Factors that influence the tax bill include the home's location, size, and any improvements or renovations made. For homeowners in Vero Beach, the median home price is $16,300. Property tax bills can vary significantly, with the 25th percentile tax bill being $64 and the 75th percentile reaching $1,921. At the 90th percentile, homeowners might see tax bills as high as $3,035. The highest median tax bill in the area is $3,778, recorded in the 32963 zip code. These property taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Vero Beach's tax rates can be relatively lower, offering some financial relief to homeowners while still supporting community needs.
Average Vero Beach Tax Bill
$65
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Vero Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32963 | $3,778 | $3,778 | $3,778 | $3,778 | $3,778 |
| 32968 | $63 | $63 | $64 | $65 | $65 |
Source: Ownwell