Miami, North Carolina Property Taxes
The median property tax rate in Miami, 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 $202,500 in Miami, the typical annual property tax bill is $1,281, which is well below the national median of $2,690. Property taxes in Miami 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 Miami'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 Miami 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
Miami, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$810
Ownwell’s Miami Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miami with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miami 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 Miami, North Carolina
Property taxes in Miami, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miami is 0.40%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Miami set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miami 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 Miami's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 33177 zip code has the highest median property tax rate of 0.40%, while the 33158 zip code has the lowest median tax rate of 0.40%. Understanding how these cities compare with Miami 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 Miami 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 Miami, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33130 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33133 | N/A | N/A | N/A | N/A | N/A |
| 33134 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33138 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33145 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33157 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33158 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33161 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33176 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33177 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33178 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33179 | N/A | N/A | N/A | N/A | N/A |
| 33181 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33186 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Miami, North Carolina
In Miami, 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 Miami, 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. For example, the highest median tax bill in Miami is $1,818 in the 33181 zip code, while the lowest is $114 in the 33145 zip code. 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 Miami, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Miami Assessed Value
$202,500
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 Miami, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33130 | $350,000 | $350,000 | $350,000 | $350,000 | $350,000 |
| 33133 | N/A | N/A | N/A | N/A | N/A |
| 33134 | $16,860 | $17,100 | $20,200 | $22,400 | $232,700 |
| 33138 | $240,000 | $240,000 | $240,000 | $240,000 | $240,000 |
| 33145 | $28,400 | $28,400 | $28,400 | $28,400 | $28,400 |
| 33157 | $160,500 | $176,250 | $202,500 | $261,400 | $296,740 |
| 33158 | $322,850 | $326,675 | $333,050 | $339,425 | $343,250 |
| 33161 | $137,300 | $137,300 | $137,300 | $137,300 | $137,300 |
| 33176 | $338,400 | $338,400 | $338,400 | $338,400 | $338,400 |
| 33177 | $22,500 | $22,500 | $22,500 | $22,500 | $22,500 |
| 33178 | $120,000 | $120,000 | $120,000 | $120,000 | $120,000 |
| 33179 | N/A | N/A | N/A | N/A | N/A |
| 33181 | $454,500 | $454,500 | $454,500 | $454,500 | $454,500 |
| 33186 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Miami, North Carolina
In Miami, Avery County, NC, property tax bills are determined based on the assessed value of your home. The assessed value is typically a percentage of the market value, which is established by the county's property assessor. Factors such as location, property size, and improvements can influence this assessed value. Once the value is determined, the local tax rate is applied to calculate the annual property tax bill. For instance, in Miami, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill stands at $549, while the 75th percentile reaches $1,383. At the higher end, the 90th percentile tax bill is $1,473. Comparatively, the highest median tax bill in the area is $1,818 in zip code 33181, while the lowest is just $114 in zip code 33145. These variations highlight the impact of property value and location on tax obligations. Homeowners should be aware of these factors as they directly influence their annual financial responsibilities.
Average Miami Tax Bill
$1,281
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Miami, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33130 | $1,400 | $1,400 | $1,400 | $1,400 | $1,400 |
| 33133 | N/A | N/A | N/A | N/A | N/A |
| 33134 | $1,492 | $1,492 | $1,492 | $1,492 | $1,492 |
| 33138 | $960 | $960 | $960 | $960 | $960 |
| 33145 | $114 | $114 | $114 | $114 | $114 |
| 33157 | $857 | $928 | $1,046 | $1,163 | $1,234 |
| 33158 | $1,291 | $1,307 | $1,332 | $1,358 | $1,373 |
| 33161 | $549 | $549 | $549 | $549 | $549 |
| 33176 | $1,354 | $1,354 | $1,354 | $1,354 | $1,354 |
| 33177 | $90 | $90 | $90 | $90 | $90 |
| 33178 | $480 | $480 | $480 | $480 | $480 |
| 33179 | N/A | N/A | N/A | N/A | N/A |
| 33181 | $1,818 | $1,818 | $1,818 | $1,818 | $1,818 |
| 33186 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell