Topton, North Carolina Property Taxes
The median property tax rate in Topton, NC is 0.73%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Topton at $60,060, the typical annual property tax bill amounts to $478, significantly below the national median of $2,690. Property taxes in Topton are calculated based on the tax assessed value, often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Topton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Topton or another part of Cherokee County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Topton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$438
Ownwell’s Topton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Topton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Topton 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 Topton, North Carolina
Property taxes in Topton, 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 Topton is 0.73%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Topton set these rates annually, and they can vary across different neighborhoods. Each year, Topton 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 Topton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28781 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these areas compare with Topton provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Topton Tax Rate
0.73%
Average Cherokee County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | 0.58% | 0.68% | 0.73% | 0.78% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Topton, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Topton, NC. 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 Cherokee 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 Topton, 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 Topton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Topton is $60,060, with tax bills ranging from $397 at the 25th percentile to $881 at the 90th percentile. The highest and lowest median tax bills are both $478 in zip code 28781.
Average Topton Assessed Value
$60,060
Average Cherokee County Assessed Value
$128,225
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | $33,228 | $38,815 | $60,060 | $88,090 | $124,128 |
Source: Ownwell
Property Tax Bills Across Topton, North Carolina
In Topton, located in Cherokee County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Topton can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is around $397, while at the 75th percentile, it’s approximately $566. Those at the 90th percentile may see bills as high as $881. The median home price in Topton is $60,060, making it essential for homeowners to understand how these values impact their tax obligations. Compared to the national median property tax rate of 0.99%, Topton's property taxes are relatively moderate. These taxes fund essential services like public schools, infrastructure, and emergency services, directly affecting the quality of life for residents. Understanding these factors can help homeowners better manage their finances and anticipate their annual property tax responsibilities.
Average Topton Tax Bill
$478
Average Cherokee County Tax Bill
$869
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | $292 | $397 | $478 | $566 | $881 |
Source: Ownwell