Apex, North Carolina Property Taxes
The median property tax rate in Apex, NC is 0.40%, 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 Apex at $342,100, the typical annual property tax bill is $1,354, which is well below the national median of $2,690. Property taxes in Apex 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 Apex'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 Apex 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
Apex, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,368
Ownwell’s Apex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Apex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Apex 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 Apex, North Carolina
Property taxes in Apex, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Apex is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Apex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Apex 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 Apex's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27523 has the highest median property tax rate of 0.40%, while also having the lowest median tax rate of 0.40%. Understanding how these cities compare with Apex provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Apex Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Apex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27502 | 0.33% | 0.38% | 0.40% | 0.40% | 0.40% |
| 27523 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27539 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Apex, North Carolina
In Apex, 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 Avery 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 Apex, 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, homeowners in zip code 27523 face the highest median tax bill at $1,368, while those in zip code 27502 have the lowest median tax bill at $1,327. 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 Apex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Apex Assessed Value
$342,100
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Apex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27502 | $234,000 | $292,500 | $385,850 | $455,750 | $472,040 |
| 27523 | $342,100 | $342,100 | $342,100 | $342,100 | $342,100 |
| 27539 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Apex, North Carolina
In Apex, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $342,100, homeowners can expect varying tax bills depending on specific factors such as property location and exemptions. Homeowners in Apex typically see tax bills ranging from $1,300 at the 25th percentile to $1,706 at the 90th percentile. The highest median tax bill in the area is $1,368 in the 27523 zip code, while the lowest is $1,327 in the 27502 zip code. These figures are relatively lower compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners budget effectively and anticipate their financial obligations, ensuring they are well-prepared for their annual property tax payments.
Average Apex Tax Bill
$1,354
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Apex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27502 | $936 | $1,170 | $1,327 | $1,498 | $1,758 |
| 27523 | $1,368 | $1,368 | $1,368 | $1,368 | $1,368 |
| 27539 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell