Swannanoa, North Carolina Property Taxes
The median property tax rate in Swannanoa, NC is 0.63%, lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Swannanoa at $216,100, the typical annual property tax bill is $1,333, which is below the national median of $2,690. Property taxes in Swannanoa are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Swannanoa'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 Swannanoa 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
Swannanoa, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,361
Ownwell’s Swannanoa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swannanoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swannanoa 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 Swannanoa, North Carolina
Property taxes in Swannanoa, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swannanoa is 0.63%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Swannanoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swannanoa 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 Swannanoa's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28778 zip code has the highest median property tax rate of 0.63%, while the same 28778 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Swannanoa 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 Swannanoa 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 Swannanoa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28778 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Swannanoa, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Swannanoa, 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 Swannanoa, 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. The median home price in Swannanoa is $216,100, with tax bills ranging from $877 at the 25th percentile to $2,392 at the 90th percentile. The zip code with the highest and lowest median tax bill is 28778, both at $1,333. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Swannanoa, North Carolina
Source: Ownwell
$42,650
$322,775
$602,900
Average Swannanoa Assessed Value
$216,100
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 Swannanoa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28778 | $85,600 | $151,350 | $216,100 | $293,300 | $386,800 |
Source: Ownwell
Property Tax Bills Across Swannanoa, North Carolina
In Swannanoa, property tax bills are calculated based on the assessed value of a home, which is determined by the Buncombe County tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in this area can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $877 and the 75th percentile tax bill reaching $1,809. For those at the higher end, the 90th percentile tax bill can be as much as $2,392. These property taxes fund essential community services such as schools, public safety, and infrastructure. The median home price in Swannanoa is $216,100, and the median property tax bill stands at approximately $1,333, which is higher than the national median property tax rate of 0.99%. This means homeowners in Swannanoa may face a slightly higher tax burden compared to the national average, impacting their annual expenses. Understanding these factors helps homeowners plan their finances better and ensures they are prepared for their property tax obligations.
Average Swannanoa Tax Bill
$1,333
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 Swannanoa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28778 | $451 | $877 | $1,333 | $1,809 | $2,392 |
Source: Ownwell