Denver, North Carolina Property Taxes
The median property tax rate in Denver, NC is 0.63%, which is 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 $479,217 in Denver, the typical annual property tax bill amounts to $3,028, surpassing the national median of $2,690. Property taxes in Denver 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. Understanding Denver'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 Denver or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Denver, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$3,019
Ownwell’s Denver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Denver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Denver 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 Denver, North Carolina
Property taxes in Denver, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Denver is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Denver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Denver 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 28037 has both the highest and lowest median property tax rate of 0.63%, matching Denver's rate. Understanding how these areas compare with Denver provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Denver Tax Rate
0.63%
Average Lincoln County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Denver, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28037 | 0.61% | 0.62% | 0.63% | 0.63% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Denver, North Carolina
In Denver, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Lincoln 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 Denver, 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. For example, the highest median tax bill in the area is $3,028 in the 28037 zip code. Being aware of these valuation processes in Denver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Denver Assessed Value
$479,217
Average Lincoln County Assessed Value
$293,422
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Denver, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28037 | $221,856 | $345,324 | $479,217 | $688,330 | $1,006,020 |
Source: Ownwell
Property Tax Bills Across Denver, North Carolina
In Denver, Lincoln County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $479,217, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $2,261, while at the 75th percentile, it rises to approximately $4,289. The highest tax bills, at the 90th percentile, can reach up to $6,196. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Denver, Lincoln County, can compare their tax rates to the national median property tax rate of 0.99% to understand their relative tax burden. High property taxes can impact homeowners by increasing the overall cost of ownership, potentially affecting housing affordability and long-term financial planning.
Average Denver Tax Bill
$3,028
Average Lincoln County Tax Bill
$2,128
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Denver, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28037 | $1,577 | $2,261 | $3,028 | $4,289 | $6,196 |
Source: Ownwell