Granite Falls, North Carolina Property Taxes
The median property tax rate in Granite Falls, NC is 0.83%, slightly lower than the national median of 0.99% but marginally higher than the North Carolina state median of 0.82%. With a median home value of $191,424 in Granite Falls, the typical annual property tax bill amounts to $1,595, which is below the national median of $2,690. Property taxes in Granite Falls are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Granite Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Granite Falls or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Granite Falls, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,589
Ownwell’s Granite Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granite Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granite Falls 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 Granite Falls, North Carolina
Property taxes in Granite Falls, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granite Falls is 0.83%, lower than the U.S. national median of 0.99%. Local government entities within Granite Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granite Falls 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 Granite Falls' effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28630 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Granite Falls provides valuable insights into the varying tax landscape across Alexander County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granite Falls Tax Rate
0.83%
Average Alexander County Tax Rate
0.84%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granite Falls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Granite Falls, North Carolina
In Granite Falls, 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 Alexander 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 Granite Falls, 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 Granite Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $191,424, with annual tax bills ranging from $1,290 at the 25th percentile to $3,300 at the 90th percentile. The zip code 28630 has both the highest and lowest median tax bill at $1,595.
Property Tax Assessment Values Across Granite Falls, North Carolina
Source: Ownwell
$155,479
$194,313
$233,146
Average Granite Falls Assessed Value
$191,424
Average Alexander County Assessed Value
$195,568
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granite Falls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | $107,729 | $154,832 | $191,424 | $257,446 | $396,206 |
Source: Ownwell
Property Tax Bills Across Granite Falls, North Carolina
In Granite Falls, NC, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the home's market value, determined by periodic assessments conducted by the county. For example, with a median home price of $191,424, homeowners can expect their tax bills to vary significantly depending on the specific assessed value and the tax rate applied. Factors such as property size, location, and improvements can influence the assessed value, thus impacting the tax bill. Homeowners in Granite Falls face tax bills ranging from $1,290 at the 25th percentile to $3,300 at the 90th percentile, with the median tax bill in the area being $1,595. This is notably higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and funding requirements for public services. Understanding these factors helps homeowners budget effectively and anticipate their annual property tax obligations.
Average Granite Falls Tax Bill
$1,595
Average Alexander County Tax Bill
$1,652
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Granite Falls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28630 | $897 | $1,290 | $1,595 | $2,145 | $3,300 |
Source: Ownwell