Yadkinville, North Carolina Property Taxes
The median property tax rate in Yadkinville, NC is 0.73%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Yadkinville at $143,278, the typical annual property tax bill amounts to $1,119, 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, such as 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
0.73%
Estimate Property Tax Bill
$1,046
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yadkinville is 0.73%, lower than 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 areas in North Carolina and the national median. For comparison, the 27055 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these figures compare with Yadkinville provides valuable insights into the varying tax landscape across Yadkin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yadkinville Tax Rate
0.73%
Average Yadkin County Tax Rate
0.74%
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 | 0.56% | 0.70% | 0.73% | 0.76% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Yadkinville, North Carolina
In Yadkinville, 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 Yadkin 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 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 in Yadkinville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Yadkinville is $1,119, found in the 27055 zip code, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Yadkinville, North Carolina
Source: Ownwell
$114,852
$182,286
$249,719
Average Yadkinville Assessed Value
$143,278
Average Yadkin County Assessed Value
$133,219
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 | $11,811 | $77,933 | $143,278 | $218,656 | $320,542 |
Source: Ownwell
Property Tax Bills Across Yadkinville, North Carolina
In Yadkinville, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For a median home price of $143,278, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $711, while at the 75th percentile, it rises to approximately $1,613. The 90th percentile sees tax bills reaching up to $2,264. Several factors influence the tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting the community's quality of life. Homeowners in Yadkinville benefit from relatively moderate property tax rates compared to the national median rate of 0.99%, allowing them to manage their finances more effectively while contributing to their local community.
Average Yadkinville Tax Bill
$1,119
Average Yadkin County Tax Bill
$1,085
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 | $482 | $711 | $1,119 | $1,613 | $2,264 |
Source: Ownwell