Loudon, North Carolina Property Taxes
The median property tax rate in Loudon, 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 Loudon at $482,900, the typical annual property tax bill amounts to $1,932, which is well below the national median of $2,690. Property taxes in Loudon are calculated 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 Loudon'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 Loudon 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
Loudon, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,932
Ownwell’s Loudon Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Loudon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loudon to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, including any applicable exemptions.
Property Tax Rates Across Loudon, North Carolina
Property taxes in Loudon, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loudon is 0.40%, significantly lower than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Loudon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loudon 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 Loudon's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 37774 zip code has the highest median property tax rate of 0.40%, while the 37774 zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Loudon 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 Loudon 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 Loudon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Loudon, North Carolina
In Loudon, 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 local 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 Loudon, 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 Loudon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37774 has the highest and lowest median tax bill at $1932.00.
Property Tax Assessment Values Across Loudon, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Loudon Assessed Value
$482,900
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 Loudon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | $482,900 | $482,900 | $482,900 | $482,900 | $482,900 |
Source: Ownwell
Property Tax Bills Across Loudon, North Carolina
In Loudon, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county's tax assessor. The assessed value is a percentage of the market value, reflecting what the property would likely sell for under current market conditions. Factors such as location, property size, and improvements can influence the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For example, in Loudon, the median home price is $482,900, leading to a median tax bill of $1,932. This amount is consistent across various percentiles, indicating a uniform tax rate application. Homeowners in Loudon should be aware that property taxes contribute significantly to local services such as schools, emergency services, and infrastructure. While the tax rate in Loudon is relatively moderate compared to the national median property tax rate of 0.99%, it remains a critical expense that homeowners must budget for annually.
Average Loudon Tax Bill
$1,932
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Loudon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | $1,932 | $1,932 | $1,932 | $1,932 | $1,932 |
Source: Ownwell