Brevard, North Carolina Property Taxes
The median property tax rate in Brevard, NC is 0.66%, 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 Brevard at $237,950, the typical annual property tax bill is $1,494, which is significantly below the national median of $2,690. Property taxes in Brevard are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Brevard's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Brevard or another part of Transylvania County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brevard, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,570
Ownwell’s Brevard Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Brevard with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Brevard to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Brevard, North Carolina
Property taxes in Brevard, 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 Brevard is 0.66%, lower than the U.S. national median of 0.99%. Local government entities within Brevard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brevard 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 Brevard's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28712 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Brevard provides valuable insights into the varying tax landscape across Transylvania County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brevard Tax Rate
0.66%
Average Transylvania County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brevard, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28712 | 0.60% | 0.60% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Brevard, North Carolina
In Brevard, 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 Transylvania 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 Brevard, 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 Brevard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brevard is $237,950, with tax bills ranging from $962 at the 25th percentile to $3,179 at the 90th percentile. The zip code 28712 has the highest and lowest median tax bill at $1,494.
Property Tax Assessment Values Across Brevard, North Carolina
Source: Ownwell
$116,555
$185,613
$254,670
Average Brevard Assessed Value
$237,950
Average Transylvania County Assessed Value
$218,910
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brevard, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28712 | $98,497 | $156,280 | $237,950 | $349,212 | $499,118 |
Source: Ownwell
Property Tax Bills Across Brevard, North Carolina
In Brevard, located in Transylvania 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. In Brevard, the median home price is $237,950. The local tax rate is then applied to this assessed value to compute the annual tax bill. Homeowners in Brevard can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is around $962, while the 75th percentile reaches $2,204. At the higher end, the 90th percentile tax bill is approximately $3,179. This variability is influenced by factors such as property size, location, and any applicable exemptions. Comparatively, the median property tax bill in Brevard stands at $1,494, which is higher than the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services, including schools, infrastructure, and public safety, directly impacting the community and homeowners.
Average Brevard Tax Bill
$1,494
Average Transylvania County Tax Bill
$1,388
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Brevard, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28712 | $568 | $962 | $1,494 | $2,204 | $3,179 |
Source: Ownwell