West Palm Beach, North Carolina Property Taxes
The median property tax rate in West 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 the median home value in West Palm Beach, the typical annual property tax bill is $840, well below the national median of $2,690. Property taxes in West Palm Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding West 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 West 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
West 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
$840
Ownwell’s West Palm Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Palm Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Palm Beach 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 West Palm Beach, North Carolina
Property taxes in West 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 West Palm Beach is 0.40%, which is lower than the U.S. national median of 0.99%. Local government entities within West Palm Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, West 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. For comparison, the zip code 33401 has the highest median property tax rate of 0.42%, while the zip code 33405 has the lowest median tax rate of 0.40%. Understanding how these areas compare with West 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 West 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 West Palm Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33401 | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| 33405 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33409 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33411 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33412 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across West Palm Beach, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in West Palm Beach, 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 West 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. For example, the highest median tax bill in the area is $3,097 in the 33405 zip code, while the lowest is $1,040 in the 33409 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across West Palm Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average West Palm Beach Assessed Value
$210,001
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 West Palm Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33401 | $653,500 | $653,500 | $653,500 | $653,500 | $653,500 |
| 33405 | $774,300 | $774,300 | $774,300 | $774,300 | $774,300 |
| 33409 | $130,000 | $130,000 | $259,900 | $428,750 | $498,860 |
| 33411 | $2,200 | $2,200 | $2,200 | $83,600 | $132,440 |
| 33412 | $268,941 | $357,351 | $504,700 | $652,050 | $740,460 |
Source: Ownwell
Property Tax Bills Across West Palm Beach, North Carolina
In West Palm Beach, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is usually a percentage of the property's market value. Homeowners in West Palm Beach can expect their tax bills to vary significantly depending on their property's value and location within the city. For example, the median home price in the area is $210,001, with tax bills ranging from $520 at the 25th percentile to $3,097 at the 90th percentile. Several factors influence the final tax bill, including the property's assessed value, applicable exemptions, and the local tax rate. The local tax rate in West Palm Beach can lead to higher tax bills compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $3,097, found in zip code 33405, while the lowest is $1,040 in zip code 33409. These variations significantly impact homeowners, influencing their overall cost of living and potential investment returns.
Average West Palm Beach Tax Bill
$840
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across West Palm Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33401 | $2,771 | $2,771 | $2,771 | $2,771 | $2,771 |
| 33405 | $3,097 | $3,097 | $3,097 | $3,097 | $3,097 |
| 33409 | $520 | $520 | $1,040 | $1,715 | $1,995 |
| 33411 | $9 | $9 | $9 | $334 | $530 |
| 33412 | $1,076 | $1,429 | $2,019 | $2,608 | $2,962 |
Source: Ownwell