Davidson, North Carolina Property Taxes
The median property tax rate in Davidson, NC is 4.64%, significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $90,000 in Davidson, the typical annual property tax bill reaches $15,646, far exceeding the national median of $2,690. Property taxes in Davidson are calculated based on the assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Davidson'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 Davidson 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
Davidson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.64%
Estimate Property Tax Bill
$4,176
Ownwell’s Davidson Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Davidson with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Davidson to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Davidson, North Carolina
Property taxes in Davidson, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Davidson is 4.64%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Davidson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davidson 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. Understanding how Davidson's property tax rate compares with other areas 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 Davidson Tax Rate
4.64%
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 Davidson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | 4.64% | 4.64% | 4.64% | 4.64% | 4.64% |
Source: Ownwell
Property Tax Assessment Values Across Davidson, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Davidson, NC. 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 Davidson, 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 Davidson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Davidson is found in zip code 28036, with a value of $15,646, while the lowest median tax bill is also in zip code 28036, at the same value.
Property Tax Assessment Values Across Davidson, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Davidson Assessed Value
$90,000
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 Davidson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | $90,000 | $90,000 | $90,000 | $100,000 | $192,250 |
Source: Ownwell
Property Tax Bills Across Davidson, North Carolina
In Davidson, located in Avery County, NC, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, if a home has a market value of $90,000, the assessed value is derived from this figure. The tax rate in Davidson is influenced by various factors, including local government budgets and public service funding needs. Homeowners in Davidson face a median property tax bill that is significantly higher than the national median property tax rate of 0.99%. The tax bill for the 25th, 75th, and 90th percentiles all stand at $15,646, indicating a consistent rate across different property values. This high tax bill can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and financial planning. Understanding these factors is crucial for homeowners to manage their finances effectively and anticipate future property tax obligations.
Average Davidson Tax Bill
$15,646
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Davidson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | $15,646 | $15,646 | $15,646 | $15,646 | $15,646 |
Source: Ownwell