Greenacres, North Carolina Property Taxes
The median property tax rate in Greenacres, 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 Greenacres at $609,400, the typical annual property tax bill amounts to $2,438, which is still below the national median of $2,690. Property taxes in Greenacres are 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 Greenacres' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Greenacres or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenacres, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$2,438
Ownwell’s Greenacres Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenacres with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenacres 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 Greenacres, North Carolina
Property taxes in Greenacres, 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 Greenacres is 0.40%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Greenacres set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenacres 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 Greenacres' effective property tax rate to other areas in Avery County and the national median. For comparison, the zip code 33413 has both the highest and lowest median property tax rate in Avery County, standing at 0.40%. Understanding how these areas compare with Greenacres 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 Greenacres 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 Greenacres, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33413 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Greenacres, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Greenacres, North Carolina. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Greenacres, 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. The median home price in Greenacres is $609,400. The highest and lowest median tax bills are both $2,438, found in zip code 33413. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Greenacres, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Greenacres Assessed Value
$609,400
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 Greenacres, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33413 | $480,360 | $528,750 | $609,400 | $690,050 | $738,440 |
Source: Ownwell
Property Tax Bills Across Greenacres, North Carolina
In Greenacres, Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $609,400, homeowners can expect to pay varying amounts depending on the assessed value and applicable exemptions. The tax bill for the 25th percentile is approximately $2,115, while those in the 75th percentile pay around $2,760. Homeowners in the 90th percentile see tax bills as high as $2,954. These figures are influenced by factors such as property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Greenacres homeowners may find their tax rates to be relatively moderate, but the actual amounts can vary widely based on individual property assessments. This variability can significantly impact homeowners' annual budgets and long-term financial planning.
Average Greenacres Tax Bill
$2,438
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenacres, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33413 | $1,921 | $2,115 | $2,438 | $2,760 | $2,954 |
Source: Ownwell