Holly Springs, North Carolina Property Taxes
The median property tax rate in Holly Springs, 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 Holly Springs, the typical annual property tax bill reaches $900, well below the national median of $2,690. Property taxes in Holly Springs 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 Holly Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Holly Springs 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
Holly Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$600
$557
Ownwell’s Holly Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holly Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holly Springs 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 Holly Springs, North Carolina
Property taxes in HOLLY SPRINGS, 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 HOLLY SPRINGS is 0.83%, which is higher than the North Carolina state median of 0.70% but still below the U.S. national median of 0.99%. Local government entities within HOLLY SPRINGS set these rates annually, and they can vary significantly across different neighborhoods. Each year, HOLLY SPRINGS 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 HOLLY SPRINGS's effective property tax rate to other counties in North Carolina and the national median. For comparison, ZIP code 27540 has the highest median property tax rate of 0.90%, while ZIP code 27502 has the lowest median tax rate of 0.60%. Understanding how these cities compare with HOLLY SPRINGS 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 Holly Springs 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 Holly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27540 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Holly Springs, North Carolina
In Holly Springs, 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 Holly Springs, 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 Holly Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 27540, with a median tax bill of $900.
Property Tax Assessment Values Across Holly Springs, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Holly Springs Assessed Value
$150,000
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 Holly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27540 | $150,000 | $150,000 | $150,000 | $168,750 | $202,500 |
Source: Ownwell
Property Tax Bills Across Holly Springs, North Carolina
In Holly Springs, Avery County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Holly Springs can expect property tax bills that are relatively consistent, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $900. This amount is notably lower than the national median property tax rate of 0.99%, making it more affordable for residents compared to other regions. Several factors influence the final tax bill, including property location, home size, and any applicable exemptions or deductions. The consistency in tax bills across different percentiles suggests a stable and predictable tax environment for homeowners. This stability can be beneficial for budgeting and financial planning, as homeowners can anticipate their annual tax obligations with greater accuracy. Overall, the property tax system in Holly Springs offers a straightforward and equitable approach to funding local services and infrastructure.
Average Holly Springs Tax Bill
$900
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Holly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27540 | $900 | $900 | $900 | $900 | $900 |
Source: Ownwell