Concord, North Carolina Property Taxes
The median property tax rate in Concord, 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 Concord, the typical annual property tax bill is $750, well below the national median of $2,690. Property taxes in Concord 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 Concord'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 Concord 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
Concord, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$750
$696
Ownwell’s Concord Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Concord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Concord 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 Concord, North Carolina
Property taxes in Concord, 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 Concord is 0.40%, which is lower than the U.S. national median of 0.99%. Local government entities within Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concord 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 Concord's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28025 has the highest median property tax rate of 0.40%, while the same zip code has the lowest median tax rate of 0.40%. Understanding how these areas compare with Concord 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 Concord 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 Concord, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28025 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28027 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Concord, North Carolina
In Concord, 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 Concord, 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. The highest median tax bill in Concord is $1,062 in the 28027 zip code, while the lowest median tax bill is $631 in the 28025 zip code. 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 Concord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Concord, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Concord Assessed Value
$187,500
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 Concord, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28025 | $12,000 | $14,250 | $157,750 | $310,525 | $329,470 |
| 28027 | $113,080 | $170,200 | $265,400 | $360,600 | $417,720 |
Source: Ownwell
Property Tax Bills Across Concord, North Carolina
In Concord, Avery County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of your property. This assessed value is then multiplied by the local tax rate to calculate your annual property tax bill. Homeowners in Concord can expect varying tax bills depending on the value of their property. For instance, the median home price in Concord is $187,500. Tax bills can range significantly, with the 25th percentile at $122 and the 90th percentile reaching up to $1,596. The highest median tax bill recorded is $1,062 in the 28027 zip code, while the lowest is $631 in the 28025 zip code. These property taxes fund essential public services like schools, roads, and emergency services. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Concord Tax Bill
$750
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Concord, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28025 | $48 | $57 | $631 | $1,242 | $1,318 |
| 28027 | $452 | $681 | $1,062 | $1,442 | $1,671 |
Source: Ownwell