Woodbridge, North Carolina Property Taxes
The median property tax rate in Woodbridge, NC is 0.40%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Woodbridge, the typical annual property tax bill reaches $2,829, slightly above the national median of $2,690. Property taxes in Woodbridge are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Woodbridge'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 Woodbridge 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
Woodbridge, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$2,829
Ownwell’s Woodbridge Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Woodbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodbridge to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends at a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Avery County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Woodbridge, North Carolina
Property taxes in Woodbridge, 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 Woodbridge is 0.40%, which is lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Woodbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodbridge 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 Woodbridge's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27601 zip code has the highest median property tax rate of 1.29%, while the 27910 zip code has the lowest median tax rate of 0.21%. Understanding how these cities compare with Woodbridge 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 Woodbridge 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 Woodbridge, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07095 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Woodbridge, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Woodbridge, 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 Woodbridge, 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 Woodbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Woodbridge, the highest and lowest median tax bills are both $2,829, found in the zip code 07095.
Property Tax Assessment Values Across Woodbridge, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Woodbridge Assessed Value
$707,200
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 Woodbridge, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07095 | $707,200 | $707,200 | $707,200 | $707,200 | $707,200 |
Source: Ownwell
Property Tax Bills Across Woodbridge, North Carolina
In Woodbridge, Avery County, NC, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Woodbridge, the median home price is $707,200, and the median property tax bill stands at $2,829. This translates to an effective property tax rate of approximately 0.40%, which is significantly lower than the national median property tax rate of 0.99%. This lower rate can be beneficial for homeowners, making Woodbridge an attractive location for property investment. However, it’s important to note that property taxes can vary within the city. For instance, both the 25th and 90th percentiles of tax bills are $2,829, indicating a relatively uniform tax rate across different property values. This consistency provides homeowners with a predictable tax environment.
Average Woodbridge Tax Bill
$2,829
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodbridge, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07095 | $2,829 | $2,829 | $2,829 | $2,829 | $2,829 |
Source: Ownwell