Spruce Pine, North Carolina Property Taxes
The median property tax rate in Spruce Pine, NC is 0.69%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $147,110 in Spruce Pine, the typical annual property tax bill amounts to $973, significantly below the national median of $2,690. Property taxes in Spruce Pine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Spruce Pine'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 Spruce Pine or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Spruce Pine, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,015
Ownwell’s Spruce Pine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spruce Pine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spruce Pine 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 McDowell County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Spruce Pine, North Carolina
Property taxes in Spruce Pine, 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 Spruce Pine is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Spruce Pine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spruce Pine 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 Spruce Pine's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28777 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Spruce Pine provides valuable insights into the varying tax landscape across McDowell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spruce Pine Tax Rate
0.69%
Average Mcdowell County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spruce Pine, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28777 | 0.64% | 0.64% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Spruce Pine, North Carolina
In Spruce Pine, 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 McDowell 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 Spruce Pine, 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. For instance, the median home price in Spruce Pine is $147,110, with property tax bills ranging from $310 at the 25th percentile to $2,197 at the 90th percentile. 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 Spruce Pine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Spruce Pine, North Carolina
Source: Ownwell
$13,000
$325,388
$637,775
Average Spruce Pine Assessed Value
$147,110
Average Mcdowell County Assessed Value
$111,420
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Spruce Pine, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28777 | $38,822 | $45,105 | $147,110 | $231,560 | $374,008 |
Source: Ownwell
Property Tax Bills Across Spruce Pine, North Carolina
In Spruce Pine, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Spruce Pine is $147,110. Homeowners in the 25th percentile pay around $310 in property taxes, while those in the 75th percentile face a tax bill of approximately $1,502. At the 90th percentile, the tax bill can reach up to $2,197. These figures illustrate the range of property taxes within the city and highlight how the assessed value of a property can significantly impact the amount homeowners are required to pay. The highest and lowest median tax bills in the area both stand at $973, indicating a moderate level of variability in tax amounts. Compared to the national median property tax rate of 0.99%, Spruce Pine homeowners experience a relatively predictable and manageable tax burden based on their property's assessed value.
Average Spruce Pine Tax Bill
$973
Average Mcdowell County Tax Bill
$723
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Spruce Pine, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28777 | $267 | $310 | $973 | $1,502 | $2,197 |
Source: Ownwell