Alexander, North Carolina Property Taxes
The median property tax rate in Alexander, NC is 0.62%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Alexander at $238,000, the typical annual property tax bill amounts to $1,468, which is less than the national median of $2,690. Property taxes in Alexander are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Alexander'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 Alexander 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
Alexander, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,476
Ownwell’s Alexander Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alexander with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alexander 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 Alexander, North Carolina
Property taxes in Alexander, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexander is 0.62%, lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Alexander set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexander 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 Alexander's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28701 zip code has the highest median property tax rate of 0.62%, while the 28701 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Alexander provides valuable insights into the varying tax landscape across Buncombe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexander Tax Rate
0.62%
Average Buncombe County Tax Rate
0.63%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexander, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28701 | 0.49% | 0.60% | 0.62% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Alexander, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Alexander, North Carolina. 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 Buncombe County Assessor 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 Alexander, 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. For instance, Alexander's median home price is $238,000, with tax bills ranging from $767 at the 25th percentile to $2,631 at the 90th percentile. The zip code 28701 has both the highest and lowest median tax bill at $1,468. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Alexander, North Carolina
Source: Ownwell
$42,650
$322,775
$602,900
Average Alexander Assessed Value
$238,000
Average Buncombe County Assessed Value
$268,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexander, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28701 | $71,880 | $136,600 | $238,000 | $330,000 | $438,340 |
Source: Ownwell
Property Tax Bills Across Alexander, North Carolina
In Alexander, a city in Buncombe County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $238,000, homeowners in Alexander face varying tax bills depending on their property's valuation and specific circumstances. The tax bill can range widely, with the 25th percentile at $767 and the 75th percentile at $2033, highlighting the disparities based on property values and exemptions. For those at the 90th percentile, tax bills can reach up to $2631. Compared to the national median property tax rate of 0.99%, Alexander's rates and the corresponding bills can significantly impact homeowners' finances. Understanding these factors is crucial for budgeting and financial planning, as property taxes are a substantial and recurring expense for homeowners in Alexander.
Average Alexander Tax Bill
$1,468
Average Buncombe County Tax Bill
$1,904
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexander, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28701 | $353 | $767 | $1,468 | $2,033 | $2,631 |
Source: Ownwell