Collettsville, North Carolina Property Taxes
The median property tax rate in Collettsville, NC is 0.40%, 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 Collettsville at $29,500, the typical annual property tax bill is $125, significantly below the national median of $2,690. Property taxes in Collettsville 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 Collettsville'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 Collettsville 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
Collettsville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$118
$110
Ownwell’s Collettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collettsville 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 Collettsville, North Carolina
Property taxes in Collettsville, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collettsville is 0.60%, which is significantly lower than both the North Carolina state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Collettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collettsville 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 Collettsville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in the state is 1.05%, while the lowest median tax rate is 0.65%. Understanding how these cities compare with Collettsville 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 Collettsville 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 Collettsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28611 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Collettsville, North Carolina
In Collettsville, 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. 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 Collettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $125.00, found in the zip code 28611.
Property Tax Assessment Values Across Collettsville, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Collettsville Assessed Value
$29,500
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 Collettsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28611 | $5,000 | $8,500 | $29,500 | $81,900 | $158,100 |
Source: Ownwell
Property Tax Bills Across Collettsville, North Carolina
In Collettsville, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the home. Homeowners in Collettsville can expect a median property tax bill around $125, which is significantly lower than the national median property tax rate of 0.99%. Several factors contribute to the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the 25th percentile of tax bills in Collettsville is $34, while the 75th percentile is $330, and the 90th percentile reaches $593. These figures illustrate the variability in tax bills depending on property value and other considerations. This relatively low property tax can be beneficial for homeowners, making home ownership more affordable and potentially increasing disposable income. Lower property taxes can also attract new residents, contributing to the growth and development of the community.
Average Collettsville Tax Bill
$125
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Collettsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28611 | $20 | $34 | $125 | $330 | $593 |
Source: Ownwell