Transylvania County Property Taxes
The median property tax rate in Transylvania County is 0.66%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Transylvania County at $218,910, the typical annual property tax bill is $1,388, well below the national median of $2,690. Property taxes in Transylvania County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Transylvania County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Brevard or another part of Transylvania County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Transylvania County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,445
Ownwell’s Transylvania Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Transylvania with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Transylvania to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Transylvania County, North Carolina
Property taxes in Transylvania County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Transylvania County is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Transylvania County set these rates annually, and they can vary significantly between different areas within the county. Each year, Transylvania County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Transylvania County's effective property tax rate with other counties and the national median. For comparison, the city of Rosman has one of the higher property tax rates in the county at 0.66%, while the city of Brevard boasts one of the lowest at 0.66%. Analyzing how Transylvania County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Transylvania County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Transylvania County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Balsam Grove | 0.66% | 0.66% | 0.66% | 0.66% | 0.67% |
| Brevard | 0.60% | 0.60% | 0.66% | 0.66% | 0.66% |
| Cedar Mountain | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Hendersonville | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Horse Shoe | 0.66% | 0.66% | 0.66% | 0.66% | 0.67% |
| Lake Toxaway | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Penrose | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
| Pisgah Forest | 0.60% | 0.66% | 0.66% | 0.66% | 0.66% |
| Rosman | 0.66% | 0.66% | 0.66% | 0.66% | 1.12% |
| Sapphire | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Transylvania County, North Carolina
In Transylvania County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Transylvania County Appraisal District. The assessed value, however, 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. Assessment notices in Transylvania County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Transylvania County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For instance, Sapphire has the highest median tax bill at $1,657, while Horse Shoe enjoys the lowest at $767.
Property Tax Assessment Values Across Transylvania County, North Carolina
Source: Ownwell
$116,555
$185,613
$254,670
Average Transylvania County Assessed Value
$218,910
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Transylvania County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Balsam Grove | $49,382 | $86,855 | $141,400 | $224,000 | $335,054 |
| Brevard | $98,497 | $156,280 | $237,950 | $349,212 | $499,118 |
| Cedar Mountain | $84,855 | $126,332 | $182,390 | $291,222 | $505,000 |
| Hendersonville | $98,034 | $147,790 | $197,360 | $276,410 | $391,150 |
| Horse Shoe | $25,665 | $81,775 | $116,555 | $161,002 | $243,330 |
| Lake Toxaway | $77,833 | $120,088 | $221,205 | $485,432 | $1,024,221 |
| Penrose | $70,912 | $118,590 | $171,830 | $267,560 | $353,738 |
| Pisgah Forest | $85,958 | $137,910 | $214,625 | $322,288 | $453,418 |
| Rosman | $46,642 | $90,640 | $147,170 | $229,660 | $364,368 |
| Sapphire | $58,098 | $111,625 | $254,670 | $452,672 | $625,215 |
Source: Ownwell
Property Tax Bills Across Transylvania County, North Carolina
In Transylvania County, NC, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in this county face varying property tax bills depending on the value of their homes. For instance, the 25th percentile tax bill is $843, while the 75th percentile tax bill reaches $2,163, and the 90th percentile tax bill is as high as $3,238. These amounts reflect the county's property tax rate, which is applied to the assessed value of homes. For comparison, the national median property tax rate is 0.99%. The highest median tax bill in the county is found in Sapphire at $1,657, whereas the lowest is in Horse Shoe at $767. These differences illustrate how location and property value significantly impact the tax burden on homeowners, influencing their overall financial planning and property-related decisions.
Average Transylvania County Tax Bill
$1,388
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Transylvania County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Balsam Grove | $308 | $544 | $837 | $1,407 | $2,118 |
| Brevard | $568 | $962 | $1,494 | $2,204 | $3,179 |
| Cedar Mountain | $473 | $801 | $1,160 | $1,879 | $3,063 |
| Hendersonville | $554 | $835 | $1,299 | $1,820 | $2,526 |
| Horse Shoe | $193 | $390 | $767 | $1,058 | $1,514 |
| Lake Toxaway | $462 | $758 | $1,400 | $3,145 | $6,657 |
| Penrose | $391 | $752 | $1,077 | $1,742 | $2,319 |
| Pisgah Forest | $492 | $857 | $1,381 | $2,088 | $2,896 |
| Rosman | $316 | $586 | $986 | $1,630 | $2,406 |
| Sapphire | $361 | $712 | $1,657 | $2,938 | $4,075 |
Source: Ownwell