North Palm Beach, North Carolina Property Taxes
The median property tax rate in North Palm Beach, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $65,000 in North Palm Beach, the typical annual property tax bill is $260, well below the national median of $2,690. Property taxes in North Palm Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding North Palm Beach'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 North Palm Beach 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
North Palm Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$260
Ownwell’s North Palm Beach Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in North Palm Beach. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in North Palm Beach to provide an accurate estimate of your property tax bill. This informative tool helps you understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across North Palm Beach, North Carolina
Property taxes in North Palm Beach, 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 North Palm Beach is 0.70%, significantly higher than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within North Palm Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Palm Beach 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 North Palm Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27601 has the highest median property tax rate of 1.07%, while the zip code 28501 has the lowest median tax rate of 0.57%. Understanding how these cities compare with North Palm Beach 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 North Palm Beach 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 North Palm Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33408 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across North Palm Beach, North Carolina
In North Palm Beach, 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 North Palm Beach, 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 North Palm Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 33408, with a median tax bill of $260.
Property Tax Assessment Values Across North Palm Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average North Palm Beach Assessed Value
$65,000
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 North Palm Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33408 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 |
Source: Ownwell
Property Tax Bills Across North Palm Beach, North Carolina
In North Palm Beach, 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's property assessor and reflects the property's market value. For instance, with a median home price of $65,000, homeowners can expect their property tax bill to be around $260, as this is the consistent amount observed at the 25th, 75th, and 90th percentiles. The local tax rate plays a crucial role in determining the final tax bill. North Palm Beach's tax rate, when applied to the assessed home value, results in a median tax bill that is relatively modest compared to the national median property tax rate of 0.99%. This lower tax burden can be a significant financial relief for homeowners, making North Palm Beach an attractive location for those looking to manage their property taxes effectively. The uniformity in tax bills across various percentiles suggests a stable and predictable tax environment for residents.
Average North Palm Beach Tax Bill
$260
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across North Palm Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33408 | $260 | $260 | $260 | $260 | $260 |
Source: Ownwell