Kingsport, North Carolina Property Taxes
The median property tax rate in Kingsport, 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 Kingsport at $993,800, the typical annual property tax bill reaches $3,975, which is above the national median of $2,690. Property taxes in Kingsport are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Kingsport'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 Kingsport 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
Kingsport, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$3,975
Ownwell’s Kingsport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingsport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingsport 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 Kingsport, North Carolina
Property taxes in Kingsport, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingsport is 0.85%, which is higher than the North Carolina state median of 0.70% but lower than the U.S. national median of 0.99%. Local government entities within Kingsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingsport 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 Kingsport's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28604 zip code has the highest median property tax rate of 0.95%, while the 28777 zip code has the lowest median tax rate of 0.40%. Understanding how these cities compare with Kingsport 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 Kingsport 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 Kingsport, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37663 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Kingsport, North Carolina
In Kingsport, 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 Kingsport, 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 Kingsport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Kingsport are both $3,975, found in the 37663 zip code.
Property Tax Assessment Values Across Kingsport, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Kingsport Assessed Value
$993,800
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 Kingsport, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37663 | $993,800 | $993,800 | $993,800 | $993,800 | $993,800 |
Source: Ownwell
Property Tax Bills Across Kingsport, North Carolina
Property tax bills in Kingsport, Avery County, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. In Kingsport, the median home price is $993,800. Homeowners in this area can expect a median property tax bill of $3,975, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can be attributed to the relatively high property values in the region. Factors such as property improvements, market conditions, and neighborhood trends can influence the assessed value, thereby affecting the tax bill. For homeowners, understanding these factors is crucial as they directly impact annual property tax obligations and overall housing costs.
Average Kingsport Tax Bill
$3,975
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingsport, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37663 | $3,975 | $3,975 | $3,975 | $3,975 | $3,975 |
Source: Ownwell