Fairview, North Carolina Property Taxes
The median property tax rate in Fairview, NC is 0.63%, 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 $282,400 in Fairview, the typical annual property tax bill is $1,726, well below the national median of $2,690. Property taxes in Fairview are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Navigating Fairview's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Fairview or another part of Buncombe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairview, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,779
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, North Carolina
Property taxes in Fairview, 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 Fairview is 0.63%, lower than both the North Carolina state median of 0.77% and the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28730 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Fairview provides valuable insights into the varying tax landscape across Buncombe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Tax Rate
0.63%
Average Buncombe County Tax Rate
0.63%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28730 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fairview, 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 Buncombe 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 Fairview, 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28730 has the highest and lowest median tax bill, both at $1,726, offering a unique insight into local property tax trends.
Property Tax Assessment Values Across Fairview, North Carolina
Source: Ownwell
$42,650
$322,775
$602,900
Average Fairview Assessed Value
$282,400
Average Buncombe County Assessed Value
$268,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28730 | $79,300 | $162,850 | $282,400 | $429,675 | $635,650 |
Source: Ownwell
Property Tax Bills Across Fairview, North Carolina
In Fairview, located in Buncombe County, NC, property tax bills are determined by assessing the value of a property and applying the local tax rate. The median home price in Fairview is $282,400. Property taxes are calculated based on the assessed value, which is often a percentage of the market value, and the local tax rate. For example, the tax bill for the 25th percentile is $931, while the 75th percentile sees a tax bill of $2,636. The 90th percentile tax bill can go up to $3,937. These figures reflect the range of property values and tax burdens within the community. Several factors influence the tax bill, including property size, location, and improvements. Homeowners in Fairview should be aware that their tax bills can vary significantly based on these factors. Compared to the national median property tax rate of 0.99%, Fairview's tax rates and resulting bills show a diverse range, impacting homeowners differently based on their property's assessed value.
Average Fairview Tax Bill
$1,726
Average Buncombe County Tax Bill
$1,904
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28730 | $433 | $931 | $1,726 | $2,636 | $3,937 |
Source: Ownwell