Fairview, North Carolina Property Taxes
The median property tax rate in Fairview, 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 Fairview at $410,500, the typical annual property tax bill amounts to $1,642, which is well below the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Fairview'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 Fairview 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
Fairview, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,642
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, North Carolina
Property taxes in Fairview, 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 Fairview is 0.40%, which is considerably lower than the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28730 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Fairview 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 Fairview 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 Fairview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28730 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, North Carolina
In Fairview, 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 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 Fairview, 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. The median home price in Fairview is $410,500. Both the highest and lowest median tax bills in Fairview are $1,642, found in the 28730 zip code. 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fairview, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Fairview Assessed Value
$410,500
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 Fairview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28730 | $410,500 | $410,500 | $410,500 | $410,500 | $410,500 |
Source: Ownwell
Property Tax Bills Across Fairview, North Carolina
In Fairview, NC, property tax bills are calculated based on the assessed value of the property and the tax rate set by Avery County. The assessed value is determined by the county assessor's office, which evaluates the market value of homes in the area. For a median-priced home in Fairview, valued at $410,500, the property tax bill can vary but typically falls around $1,642. This amount is consistent across various percentiles, including the 25th, 75th, and 90th percentiles, indicating a uniform tax rate application in the region. Factors influencing the tax bill include the property's assessed value and any applicable exemptions or deductions. Homeowners in Fairview can expect their property taxes to impact their annual expenses significantly, although the tax rate here is relatively moderate compared to the national median property tax rate of 0.99%. Understanding these elements helps homeowners budget effectively and anticipate their financial obligations related to property ownership.
Average Fairview Tax Bill
$1,642
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28730 | $1,642 | $1,642 | $1,642 | $1,642 | $1,642 |
Source: Ownwell