Boone, North Carolina Property Taxes
The median property tax rate in Boone, 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 $151,650 in Boone, the typical annual property tax bill amounts to $627, which is well below the national median of $2,690. Property taxes in Boone are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Boone's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Boone or another part of Avery County, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Boone, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$607
$563
Ownwell’s Boone Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Boone using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boone to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Boone, North Carolina
Property taxes in Boone, North Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Boone is 0.40%, which is significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Boone set these rates annually, and they can vary across different neighborhoods. Each year, Boone 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 Boone's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28607 has both the highest and lowest median property tax rate of 0.40%, reflecting a uniform rate across the region. Understanding how these areas compare with Boone 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 Boone 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 Boone, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28607 | 0.40% | 0.40% | 0.40% | 0.40% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Boone, North Carolina
In Boone, 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 Boone, 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 Boone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28607 in Boone has both the highest and lowest median tax bill at $627.
Property Tax Assessment Values Across Boone, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Boone Assessed Value
$151,650
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 Boone, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28607 | $5,150 | $41,400 | $151,650 | $240,825 | $404,150 |
Source: Ownwell
Property Tax Bills Across Boone, North Carolina
In Boone, Avery County, NC, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The median home price in Boone is $151,650. Homeowners in Boone can expect their property tax bills to vary significantly based on the assessed value of their property and the specific tax rates applied. For example, the 25th percentile tax bill is around $166, while the 75th percentile tax bill reaches approximately $973. At the higher end, the 90th percentile tax bill is about $1,617. These variations in tax bills impact homeowners differently. Those with properties assessed at higher values will naturally see higher tax bills. The highest and lowest median tax bill in Boone is $627, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can be a significant factor for potential homeowners when considering the affordability of living in Boone. Understanding these factors helps homeowners anticipate their annual property tax obligations more accurately.
Average Boone Tax Bill
$627
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Boone, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28607 | $21 | $166 | $627 | $973 | $1,617 |
Source: Ownwell