Boiling Springs, North Carolina Property Taxes
The median property tax rate in Boiling Springs, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $482,900 in Boiling Springs, the typical annual property tax bill amounts to $1,932, which is well below the national median of $2,690. Property taxes in Boiling Springs 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 Boiling 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 Boiling 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
Boiling Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,932
$1,792
Ownwell’s Boiling Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boiling Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boiling 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 Boiling Springs, North Carolina
Property taxes in Boiling Springs, North Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boiling Springs is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Boiling Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boiling 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 Boiling Springs' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 29316 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Boiling Springs 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 Boiling Springs 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 Boiling Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29316 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Boiling Springs, North Carolina
In Boiling 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 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 Boiling 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 Boiling Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Boiling Springs are both $1932, with the zip code 29316.
Property Tax Assessment Values Across Boiling Springs, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Boiling Springs Assessed Value
$482,900
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 Boiling Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29316 | $482,900 | $482,900 | $482,900 | $482,900 | $482,900 |
Source: Ownwell
Property Tax Bills Across Boiling Springs, North Carolina
In Boiling Springs, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Boiling Springs see a median home price of $482,900. The property tax rate in Boiling Springs is applied to this assessed value to determine the annual tax bill. For example, a homeowner with a property valued at the median price can expect a tax bill around $1,932, which is consistent across various percentiles in the area. Several factors influence the assessed value, including the property's location, size, condition, and comparable sales in the neighborhood. This tax bill is crucial as it funds local services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Boiling Springs offers a relatively moderate tax burden, making it an attractive location for homeowners.
Average Boiling Springs Tax Bill
$1,932
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Boiling Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29316 | $1,932 | $1,932 | $1,932 | $1,932 | $1,932 |
Source: Ownwell