Land O Lakes, North Carolina Property Taxes
The median property tax rate in Land O Lakes, NC is 0.51%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Land O Lakes at $226,400, the typical annual property tax bill amounts to $1,154, which is below the national median of $2,690. Property taxes in Land O Lakes are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Land O Lakes' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Land O Lakes or another part of Avery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Land O Lakes, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,155
Ownwell’s LAND O LAKES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LAND O LAKES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LAND O LAKES 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 Land O Lakes, North Carolina
Property taxes in Land O' Lakes, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Land O' Lakes is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Land O' Lakes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Land O' Lakes 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 Land O' Lakes' effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 34639 has both the highest and lowest median property tax rate of 0.51%. Understanding how these areas compare with Land O' Lakes 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 Land O Lakes Tax Rate
0.51%
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 Land O Lakes, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34639 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Land O Lakes, North Carolina
In Land O Lakes, 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 Land O Lakes, 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 Land O Lakes 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 $1,154, found in the 34639 zip code.
Property Tax Assessment Values Across Land O Lakes, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Land O Lakes Assessed Value
$226,400
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 Land O Lakes, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34639 | $226,400 | $226,400 | $226,400 | $226,400 | $226,400 |
Source: Ownwell
Property Tax Bills Across Land O Lakes, North Carolina
In Land O Lakes, Avery County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Land O Lakes can expect a median home price of $226,400. The property tax rate, which is applied to this assessed value, is crucial in determining the final tax bill. For homeowners, the tax bill can vary significantly. The 25th, 75th, and 90th percentiles of tax bills in the area are all $1,154, indicating a consistent tax burden across different property values. This amount is notably higher than the national median property tax rate of 0.99%. Such consistency in tax bills suggests a standardized approach within the zip code 34639. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations. This knowledge is essential for financial planning and property investment decisions.
Average Land O Lakes Tax Bill
$1,154
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Land O Lakes, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34639 | $1,154 | $1,154 | $1,154 | $1,154 | $1,154 |
Source: Ownwell