Granite Falls, North Carolina Property Taxes
The median property tax rate in Granite Falls, NC is 0.74%, which is 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 Granite Falls at $114,100, the typical annual property tax bill amounts to $839, significantly less than the national median of $2,690. Property taxes in Granite Falls 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 Granite Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Granite Falls 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
Granite Falls, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$844
Ownwell’s Granite Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granite Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granite Falls 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 Granite Falls, North Carolina
Property taxes in Granite Falls, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granite Falls is 0.74%, lower than the U.S. national median of 0.99%. Local government entities within Granite Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granite Falls 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 Granite Falls' effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28630 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these areas compare with Granite Falls provides valuable insights into the varying tax landscape across Caldwell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granite Falls Tax Rate
0.74%
Average Caldwell County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granite Falls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | 0.64% | 0.67% | 0.74% | 0.80% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Granite Falls, North Carolina
In Granite Falls, 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 Caldwell 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 Granite Falls, 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 Granite Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Granite Falls is $114,100, with annual tax bills ranging from $468 at the 25th percentile to $2,105 at the 90th percentile. The highest and lowest median tax bills are both $839 in the 28630 zip code.
Property Tax Assessment Values Across Granite Falls, North Carolina
Source: Ownwell
$11,100
$496,325
$981,550
Average Granite Falls Assessed Value
$114,100
Average Caldwell County Assessed Value
$103,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granite Falls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | $28,390 | $66,200 | $114,100 | $181,500 | $306,310 |
Source: Ownwell
Property Tax Bills Across Granite Falls, North Carolina
In Granite Falls, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Caldwell County tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Granite Falls, the median home price is $114,100, and the property tax rate is applied to this value to generate the tax bill. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. For instance, the 25th percentile tax bill is $468, while the 75th percentile reaches $1,303. Homeowners at the 90th percentile can see tax bills as high as $2,105. Compared to the national median property tax rate of 0.99%, Granite Falls' property tax rates can significantly impact homeowners, making it essential to understand the local assessment process and any available exemptions to manage their annual tax responsibilities effectively.
Average Granite Falls Tax Bill
$839
Average Caldwell County Tax Bill
$744
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Granite Falls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | $181 | $468 | $839 | $1,303 | $2,105 |
Source: Ownwell