Jefferson, North Carolina Property Taxes
The median property tax rate in Jefferson, NC is 0.47%, 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 Jefferson at $253,150, the typical annual property tax bill is $1,352, which is below the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jefferson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jefferson 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
Jefferson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,190
$1,104
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, North Carolina
Property taxes in Jefferson, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 0.47%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28640 has the highest median property tax rate of 0.47%, while the same zip code 28640 also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Ashe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
0.47%
Average Ashe County Tax Rate
0.48%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28640 | 0.47% | 0.47% | 0.47% | 0.51% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, North Carolina
In Jefferson, 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 Ashe 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,352 in the 28640 zip code.
Property Tax Assessment Values Across Jefferson, North Carolina
Source: Ownwell
$175,200
$272,250
$369,300
Average Jefferson Assessed Value
$253,150
Average Ashe County Assessed Value
$228,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28640 | $76,500 | $159,600 | $253,150 | $402,575 | $588,650 |
Source: Ownwell
Property Tax Bills Across Jefferson, North Carolina
In Jefferson, located in Ashe County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor's office, which evaluates the property's market value. Homeowners in Jefferson typically see tax bills that vary depending on the assessed value of their homes. For instance, the median home price in Jefferson is $253,150. The property tax rate in Jefferson is applied to this assessed value to determine the annual tax bill. For example, homeowners at the 25th percentile of tax bills pay around $766, while those at the 75th percentile pay about $2,069. At the 90th percentile, the tax bill can reach $3,017. These tax bills significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Jefferson's property tax rates can be a crucial factor for residents when considering homeownership and budgeting for annual expenses.
Average Jefferson Tax Bill
$1,352
Average Ashe County Tax Bill
$1,108
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28640 | $350 | $766 | $1,352 | $2,069 | $3,017 |
Source: Ownwell