Irmo, North Carolina Property Taxes
The median property tax rate in Irmo, NC 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 $446,700 in Irmo, the typical annual property tax bill amounts to $1,787, which is well below the national median of $2,690. Property taxes in Irmo are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Irmo'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 Irmo 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
Irmo, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,787
Ownwell’s Irmo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Irmo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Irmo 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 Irmo, North Carolina
Property taxes in Irmo, 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 Irmo is 0.40%, notably lower than the U.S. national median of 0.99%. Local government entities within Irmo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Irmo 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 Irmo's effective property tax rate to other areas in Avery County and the national median. For comparison, the zip code 29063 in Irmo has both the highest and lowest median property tax rate of 0.40%. Understanding how these figures compare with Irmo 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 Irmo 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 Irmo, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29063 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Irmo, North Carolina
In Irmo, 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 Irmo, 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. The median home price is $446,700, and property tax bills can range significantly. For instance, the 25th percentile tax bill is $1,714, while the 75th percentile reaches $1,859, and the 90th percentile is $1,903. Notably, the zip code 29063 has both the highest and lowest median tax bill at $1,787. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Irmo Assessed Value
$446,700
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 Irmo, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29063 | $417,740 | $428,600 | $446,700 | $464,800 | $475,660 |
Source: Ownwell
Property Tax Bills Across Irmo, North Carolina
In Irmo, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $446,700, homeowners can expect their property tax bill to be influenced by this valuation. The tax rate applied to this assessed value is a crucial factor. While the national median property tax rate stands at 0.99%, local rates may vary, affecting the final tax bill. In Irmo, property tax bills range significantly, with the 25th percentile at $1,714 and the 75th percentile at $1,859. The 90th percentile tax bill reaches up to $1,903, indicating the variability based on property value and specific local rates. This system ensures that homeowners contribute to local services proportionally to their property's worth, but it can also mean higher financial responsibilities for those with more valuable homes. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations.
Average Irmo Tax Bill
$1,787
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Irmo, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29063 | $1,671 | $1,714 | $1,787 | $1,859 | $1,903 |
Source: Ownwell