Grassy Creek, North Carolina Property Taxes
The median property tax rate in Grassy Creek, NC is 0.51%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Grassy Creek at $241,200, the typical annual property tax bill is $1,141, which is below the national median of $2,690. Property taxes in Grassy Creek are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Grassy Creek'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 Grassy Creek 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
Grassy Creek, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,230
Ownwell’s Grassy Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grassy Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grassy Creek 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 Grassy Creek, North Carolina
Property taxes in Grassy Creek, 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 Grassy Creek is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Grassy Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grassy Creek 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 Grassy Creek's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28631 has the highest median property tax rate of 0.51%, while the lowest median tax rate is also 0.51% in the same zip code. Understanding how these areas compare with Grassy Creek provides valuable insights into the varying tax landscape across Ashe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grassy Creek Tax Rate
0.51%
Average Ashe County Tax Rate
0.48%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grassy Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28631 | 0.31% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Grassy Creek, North Carolina
In Grassy Creek, 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 Ashe 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 Grassy Creek, 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 Grassy Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,141, found in zip code 28631.
Property Tax Assessment Values Across Grassy Creek, North Carolina
Source: Ownwell
$175,200
$272,250
$369,300
Average Grassy Creek Assessed Value
$241,200
Average Ashe County Assessed Value
$228,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grassy Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28631 | $51,540 | $140,600 | $241,200 | $381,200 | $547,040 |
Source: Ownwell
Property Tax Bills Across Grassy Creek, North Carolina
In Grassy Creek, located in Ashe County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $241,200. Homeowners can expect their property tax bill to vary, with the 25th percentile at $608 and the 75th percentile at $1,746. For those at the 90th percentile, the tax bill can reach up to $2,573. The tax bill is determined by multiplying the assessed value of the property by the local tax rate. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value. This assessment impacts homeowners by contributing to their annual financial obligations, which can vary significantly depending on the specific assessed value of their property. Comparatively, the highest median tax bill in Ashe County is $1,141, which aligns with the national median property tax rate of 0.99%. Understanding these factors helps homeowners in Grassy Creek better anticipate and manage their property tax responsibilities.
Average Grassy Creek Tax Bill
$1,141
Average Ashe County Tax Bill
$1,108
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Grassy Creek, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28631 | $233 | $608 | $1,141 | $1,746 | $2,573 |
Source: Ownwell