Yadkinville, North Carolina Property Taxes
The median property tax rate in Yadkinville, NC is 0.62%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With a median home value of $147,620 in Yadkinville, the typical annual property tax bill amounts to $787, well below the national median of $2,690. Property taxes in Yadkinville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Yadkinville'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 Yadkinville 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
Yadkinville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$915
Ownwell’s Yadkinville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yadkinville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yadkinville 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 Yadkinville, North Carolina
Property taxes in Yadkinville, 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 Yadkinville is 0.62%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Yadkinville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yadkinville 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 Yadkinville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27055 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Yadkinville provides valuable insights into the varying tax landscape across Iredell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yadkinville Tax Rate
0.62%
Average Iredell County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yadkinville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27055 | 0.16% | 0.37% | 0.62% | 0.65% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Yadkinville, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yadkinville, NC. 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 local 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 Yadkinville, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Yadkinville is $147,620, with the highest and lowest median tax bills both being $787 in the 27055 zip code.
Property Tax Assessment Values Across Yadkinville, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Yadkinville Assessed Value
$147,620
Average Iredell County Assessed Value
$268,560
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yadkinville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27055 | $69,226 | $91,970 | $147,620 | $232,320 | $366,206 |
Source: Ownwell
Property Tax Bills Across Yadkinville, North Carolina
In Yadkinville, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. Factors such as the property's size, location, and condition are considered during assessment. The tax rate, set by local government authorities, is then applied to this assessed value to determine the annual tax bill. Homeowners in Yadkinville can expect a median property tax bill of $787, which is significantly lower than the national median property tax rate of 0.99%. For instance, homes in the 25th percentile have tax bills around $535, while those in the 75th percentile pay approximately $1062. At the 90th percentile, tax bills can reach up to $1467. This variance in tax bills can impact homeowners differently, depending on their property's assessed value and the local tax rate. Lower property taxes can be advantageous for homeowners, making Yadkinville an attractive place for property investment.
Average Yadkinville Tax Bill
$787
Average Iredell County Tax Bill
$2,001
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Yadkinville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27055 | $269 | $535 | $787 | $1,062 | $1,467 |
Source: Ownwell