Lake Santeetlah, North Carolina Property Taxes
The median property tax rate in Lake Santeetlah, NC is 0.80%, slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Lake Santeetlah at $492,385, the typical annual property tax bill reaches $3,908, significantly exceeding the national median of $2,690. Property taxes in Lake Santeetlah 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 Lake Santeetlah'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 Lake Santeetlah 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
Lake Santeetlah, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$3,939
Ownwell’s Lake Santeetlah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Santeetlah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Santeetlah 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 Lake Santeetlah, North Carolina
Property taxes in Lake Santeetlah, 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 Lake Santeetlah is 0.80%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Lake Santeetlah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Santeetlah 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 Lake Santeetlah's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28771 zip code has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Lake Santeetlah provides valuable insights into the varying tax landscape across Graham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Santeetlah Tax Rate
0.80%
Average Graham County Tax Rate
0.59%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Santeetlah, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28771 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Lake Santeetlah, North Carolina
In Lake Santeetlah, 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 Graham 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 Lake Santeetlah, 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 Lake Santeetlah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lake Santeetlah is $492,385, with the 25th percentile tax bill at $1,857 and the 75th percentile at $6,985. The highest and lowest median tax bills are both $3,908 in zip code 28771.
Property Tax Assessment Values Across Lake Santeetlah, North Carolina
Source: Ownwell
$121,930
$307,158
$492,385
Average Lake Santeetlah Assessed Value
$492,385
Average Graham County Assessed Value
$124,715
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Santeetlah, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28771 | $179,800 | $225,410 | $492,385 | $861,320 | $1,242,199 |
Source: Ownwell
Property Tax Bills Across Lake Santeetlah, North Carolina
In Lake Santeetlah, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. For instance, the median home price in Lake Santeetlah is $492,385. Homeowners in Lake Santeetlah can expect varying tax bills, with the 25th percentile at $1,857 and the 75th percentile reaching $6,985. The highest tax bills, in the 90th percentile, can go up to $9,989. These figures are significantly influenced by the local property tax rate, which can vary from one area to another. Comparatively, the national median property tax rate is 0.99%, highlighting the importance of understanding local tax rates and assessed values. For homeowners, these taxes are a crucial part of annual budgeting, impacting overall housing costs and financial planning.
Average Lake Santeetlah Tax Bill
$3,908
Average Graham County Tax Bill
$769
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Santeetlah, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28771 | $1,488 | $1,857 | $3,908 | $6,985 | $9,989 |
Source: Ownwell