Laurel Springs, North Carolina Property Taxes
The median property tax rate in Laurel Springs, NC is 0.51%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Laurel Springs at $219,000, the typical annual property tax bill reaches $1,028, significantly below the national median of $2,690. Property taxes in Laurel Springs are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Laurel Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Laurel Springs 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
Laurel Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,117
Ownwell’s Laurel Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laurel Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurel Springs 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 Laurel Springs, North Carolina
Property taxes in Laurel Springs, 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 Laurel Springs is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Laurel Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurel Springs 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 Laurel Springs' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28644 has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Laurel Springs 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 Laurel Springs Tax Rate
0.51%
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 Laurel Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28644 | 0.34% | 0.51% | 0.51% | 0.51% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Laurel Springs, North Carolina
In Laurel Springs, 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 Laurel Springs, 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 Laurel Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Laurel Springs is $219,000, with tax bills ranging from $612 at the 25th percentile to $2,512 at the 90th percentile. The zip code 28644 has both the highest and lowest median tax bill at $1,028.
Property Tax Assessment Values Across Laurel Springs, North Carolina
Source: Ownwell
$175,200
$272,250
$369,300
Average Laurel Springs Assessed Value
$219,000
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 Laurel Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28644 | $49,700 | $128,750 | $219,000 | $364,100 | $541,340 |
Source: Ownwell
Property Tax Bills Across Laurel Springs, North Carolina
In Laurel Springs, located in Ashe County, NC, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $219,000, homeowners can expect their property taxes to vary significantly. The tax bill for the 25th percentile is around $612, while those in the 75th percentile can see bills as high as $1,721. At the 90th percentile, the tax bill can reach up to $2,512. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the figures in Laurel Springs reflect a range that can impact homeowners differently based on their property's assessed value. This variability underscores the importance of understanding local tax assessments and staying updated on any changes that might affect future tax obligations.
Average Laurel Springs Tax Bill
$1,028
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 Laurel Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28644 | $213 | $612 | $1,028 | $1,721 | $2,512 |
Source: Ownwell