Clyde, North Carolina Property Taxes
The median property tax rate in Clyde, NC is 0.63%, 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 Clyde at $361,700, the typical annual property tax bill reaches $2,227, falling below the national median of $2,690. Property taxes in Clyde 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 Clyde'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 Clyde 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
Clyde, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$2,279
Ownwell’s Clyde Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clyde with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clyde 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 Clyde, North Carolina
Property taxes in Clyde, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clyde is 0.63%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Clyde set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clyde 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 Clyde's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28721 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Clyde 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 Clyde Tax Rate
0.63%
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 Clyde, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28721 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Clyde, North Carolina
In Clyde, 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 Buncombe 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 Clyde, 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 Clyde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Clyde are both $2,227, found in the 28721 zip code.
Average Clyde Assessed Value
$361,700
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 Clyde, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28721 | $265,040 | $309,400 | $361,700 | $479,250 | $584,760 |
Source: Ownwell
Property Tax Bills Across Clyde, North Carolina
In Clyde, located in Buncombe County, NC, property tax bills are calculated based on a combination of the assessed value of a property and the local tax rate. The assessed value is determined by county tax assessors who evaluate the market value of properties. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $361,700, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property location, improvements, and market conditions play significant roles in determining the assessed value. The tax bill for the 25th percentile in Clyde is approximately $1,931, while the 75th percentile reaches around $2,900. At the 90th percentile, the tax bill can go up to $3,228. These property taxes can significantly impact homeowners, influencing their monthly budgets and long-term financial planning. Comparing these figures to the national median property tax rate of 0.99% highlights how local rates and assessed values can lead to differing tax obligations.
Average Clyde Tax Bill
$2,227
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 Clyde, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28721 | $1,656 | $1,931 | $2,227 | $2,900 | $3,228 |
Source: Ownwell