Vilas, North Carolina Property Taxes
The median property tax rate in Vilas, 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 Vilas, the typical annual property tax bill is $30, far below the national median of $2,690. Property taxes in Vilas 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 Vilas'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 Vilas 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
Vilas, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$30
Ownwell’s Vilas Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Vilas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vilas 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 Vilas, North Carolina
Property taxes in Vilas, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vilas 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 Vilas set these rates annually, and they can vary across different neighborhoods. Each year, Vilas 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 Vilas's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28692 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Vilas 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 Vilas 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 Vilas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28692 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Vilas, North Carolina
In Vilas, 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 Vilas, 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 Vilas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bill is 28692 at $30, while the lowest is 28691 at $20.
Property Tax Assessment Values Across Vilas, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Vilas Assessed Value
$7,500
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 Vilas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28692 | $3,340 | $4,900 | $7,500 | $7,500 | $7,500 |
Source: Ownwell
Property Tax Bills Across Vilas, North Carolina
Property tax bills in Vilas, Avery County, NC, are determined based on the assessed value of a property and the applicable tax rate. The assessed value is a percentage of the market value of the property, determined by the county assessor. For instance, if the median home price in Vilas is $7,500, the tax bill is calculated by applying the local tax rate to this assessed value. In Vilas, the property tax bills range significantly. Homeowners in the 25th percentile pay around $20, while those in the 75th and 90th percentiles pay about $30 annually. This variation is influenced by factors such as property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Vilas homeowners generally experience lower tax burdens. Understanding how these factors influence your tax bill can help homeowners budget effectively and explore potential savings through appeals or exemptions.
Average Vilas Tax Bill
$30
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Vilas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28692 | $13 | $20 | $30 | $30 | $30 |
Source: Ownwell