Abingdon, North Carolina Property Taxes
The median property tax rate in Abingdon, NC is 0.40%, 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 Abingdon, the typical annual property tax bill is $16, far below the national median of $2,690. Property taxes in Abingdon 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 Abingdon'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 Abingdon 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
Abingdon, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$16
Ownwell’s Abingdon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Abingdon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Abingdon 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 Abingdon, North Carolina
Property taxes in Abingdon, 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 Abingdon is 0.40%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Abingdon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Abingdon 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 Abingdon's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in the county is found in ZIP code 28657 at 0.70%, while the lowest is in ZIP code 28679 at 0.35%. Understanding how these areas compare with Abingdon provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Abingdon Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Abingdon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24210 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Abingdon, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Abingdon, North Carolina. 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 Avery 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 Abingdon, 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 Abingdon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Abingdon, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Abingdon Assessed Value
$4,000
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Abingdon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24210 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
Source: Ownwell
Property Tax Bills Across Abingdon, North Carolina
In Abingdon, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Abingdon can expect their property tax bills to be influenced by the county's tax rate, which is applied to the assessed value. For instance, with a median home price of $4,000, homeowners can see tax bills around the 25th, 75th, and 90th percentiles all at $16. This uniformity suggests a stable tax rate across different property values. The national median property tax rate is 0.99%, but local rates can vary, impacting homeowners differently. For Abingdon residents, understanding these factors is crucial as property taxes contribute to local services such as schools, public safety, and infrastructure. Keeping track of property assessments and any changes in tax rates can help homeowners manage their finances and anticipate their annual tax obligations effectively.
Average Abingdon Tax Bill
$16
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Abingdon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24210 | $16 | $16 | $16 | $16 | $16 |
Source: Ownwell