Gilbert, North Carolina Property Taxes
The median property tax rate in Gilbert, 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 Gilbert at $372,900, the typical annual property tax bill reaches $1,492, well below the national median of $2,690. Property taxes in Gilbert 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 Gilbert'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 Gilbert 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
Gilbert, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,492
$1,384
Ownwell’s Gilbert Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilbert with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilbert 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 Gilbert, North Carolina
Property taxes in Gilbert, North Carolina, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilbert is 0.40%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Gilbert set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilbert 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 Gilbert's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 29054 zip code has the highest median property tax rate of 0.40%, while the 29054 zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Gilbert 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 Gilbert 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 Gilbert, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29054 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Gilbert, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gilbert, North Carolina. The market value represents 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 Gilbert, 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. With the median home price at $372,900, the property tax bills range from $1,492 at the 25th percentile to $1,492 at the 90th percentile, with the highest and lowest median tax bills being $1,492 in the 29054 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gilbert, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Gilbert Assessed Value
$372,900
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 Gilbert, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29054 | $372,900 | $372,900 | $372,900 | $372,900 | $372,900 |
Source: Ownwell
Property Tax Bills Across Gilbert, North Carolina
In Gilbert, Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Gilbert is $372,900. Property taxes are then applied at the local tax rate, which in this region results in a median tax bill of $1,492. This figure is consistent across various percentiles, indicating a uniform tax application within the area. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Gilbert should note that their tax bills are relatively lower compared to the national median property tax rate of 0.99%. For instance, a home valued at the median price would incur a tax bill that remains constant around $1,492, showcasing a stable and predictable tax environment. This consistency can significantly impact homeowners, providing them with a clear expectation of their annual property tax liabilities.
Average Gilbert Tax Bill
$1,492
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilbert, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29054 | $1,492 | $1,492 | $1,492 | $1,492 | $1,492 |
Source: Ownwell