Ellicott City, North Carolina Property Taxes
The median property tax rate in Ellicott City, North Carolina 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 $130,000 in Ellicott City, the typical annual property tax bill amounts to $520, which is well below the national median of $2,690. Property taxes in Ellicott City are based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Ellicott City'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 Ellicott City or another part of Avery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellicott City, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$520
$483
Ownwell’s Ellicott City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellicott City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellicott City 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 Ellicott City, North Carolina
Property taxes in Ellicott City, 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 Ellicott City is 0.75%, higher than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Ellicott City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellicott City 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 Ellicott City's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in Avery County is 0.40%, while the lowest median tax rate is also 0.40%. Understanding how these cities compare with Ellicott City 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 Ellicott City 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 Ellicott City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21043 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Ellicott City, North Carolina
In Ellicott City, 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 Ellicott City, 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 Ellicott City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 21043 has both the highest and lowest median tax bills at $520.
Property Tax Assessment Values Across Ellicott City, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Ellicott City Assessed Value
$130,000
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 Ellicott City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21043 | $130,000 | $130,000 | $130,000 | $130,000 | $130,000 |
Source: Ownwell
Property Tax Bills Across Ellicott City, North Carolina
In Ellicott City, Avery County, NC, property tax bills are calculated based on the assessed value of your home. For example, with a median home price of $130,000, the property tax rate is applied to this assessed value to determine the annual tax bill. Factors considered include the property's market value and any applicable exemptions or deductions. The median property tax bill in this area consistently stands at $520, which is significantly lower than the national median property tax rate of 0.99%. For homeowners, this means that property taxes in Ellicott City are relatively affordable. The consistency of the tax bill, as evidenced by the 25th, 75th, and 90th percentiles all being $520, provides predictability and financial stability. Homeowners can budget more effectively, knowing their property tax obligations will not fluctuate drastically year over year. This financial predictability can be a significant advantage, especially when compared to other regions with higher and more variable property tax rates.
Average Ellicott City Tax Bill
$520
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellicott City, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21043 | $520 | $520 | $520 | $520 | $520 |
Source: Ownwell