Odenton, North Carolina Property Taxes
The median property tax rate in Odenton, 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 Odenton at $165,700, the typical annual property tax bill is $663, which is well below the national median of $2,690. Property taxes in Odenton 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 Odenton'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 Odenton 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
Odenton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$663
Ownwell’s Odenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Odenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Odenton 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 Odenton, North Carolina
Property taxes in Odenton, 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 Odenton is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Odenton set these rates annually, and they can vary across different neighborhoods. Each year, Odenton 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 Odenton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 21113 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Odenton 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 Odenton 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 Odenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21113 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Odenton, North Carolina
In Odenton, 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 Odenton, 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 Odenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 21113, both amounting to $663.
Property Tax Assessment Values Across Odenton, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Odenton Assessed Value
$165,700
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 Odenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21113 | $165,700 | $165,700 | $165,700 | $165,700 | $165,700 |
Source: Ownwell
Property Tax Bills Across Odenton, North Carolina
In Odenton, Avery County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county's tax assessor, who evaluates the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $165,700, homeowners in Odenton can expect a median tax bill of $663, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence your tax bill, including property size, location, and any improvements made to the home. These factors can lead to variations in assessed values, even among similar properties. For homeowners, understanding how these elements affect their tax bill is crucial for financial planning. Lower property taxes can make homeownership more affordable, but it's essential to stay informed about any changes in assessment practices or tax rates that could impact future bills.
Average Odenton Tax Bill
$663
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Odenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21113 | $663 | $663 | $663 | $663 | $663 |
Source: Ownwell