Palm Beach Gardens, North Carolina Property Taxes
The median property tax rate in Palm Beach Gardens, NC is 0.36%, 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 Palm Beach Gardens at $1,507,100, the typical annual property tax bill reaches $5,340, which is notably higher than the national median of $2,690. Property taxes in Palm Beach Gardens 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 Palm Beach Gardens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Palm Beach Gardens 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
Palm Beach Gardens, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$5,426
$5,035
Ownwell’s Palm Beach Gardens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palm Beach Gardens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palm Beach Gardens 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 Palm Beach Gardens, North Carolina
Property taxes in Palm Beach Gardens, 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 Palm Beach Gardens stands at 0.36%, which is significantly lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Palm Beach Gardens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palm Beach Gardens 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 Palm Beach Gardens' effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in North Carolina is found in zip code 28704, with a rate of 1.19%, while the lowest median tax rate is in zip code 27814, at just 0.38%. Understanding how these cities compare with Palm Beach Gardens 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 Palm Beach Gardens Tax Rate
0.36%
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 Palm Beach Gardens, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33410 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
| 33418 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Palm Beach Gardens, North Carolina
In Palm Beach Gardens, 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. 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 Palm Beach Gardens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Palm Beach Gardens, the highest median tax bill is $5,642 in the 33410 zip code, while the lowest median tax bill is $5,038 in the 33418 zip code.
Property Tax Assessment Values Across Palm Beach Gardens, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Palm Beach Gardens Assessed Value
$1,507,100
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 Palm Beach Gardens, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33410 | $1,718,000 | $1,718,000 | $1,718,000 | $1,718,000 | $1,718,000 |
| 33418 | $1,296,200 | $1,296,200 | $1,296,200 | $1,296,200 | $1,296,200 |
Source: Ownwell
Property Tax Bills Across Palm Beach Gardens, North Carolina
In Palm Beach Gardens, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the market value of the home, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Palm Beach Gardens, the median home price stands at $1,507,100. The tax bills vary significantly within the city. For instance, in the 25th percentile, the tax bill is around $5,189, while in the 75th percentile, it rises to $5,491. The 90th percentile sees tax bills as high as $5,582. The highest median tax bill in the area is $5,642 in the 33410 zip code, whereas the lowest median tax bill of $5,038 is found in the 33418 zip code. These tax bills impact homeowners by affecting their annual expenses and potentially influencing their decisions on property investments and long-term residency in the area.
Average Palm Beach Gardens Tax Bill
$5,340
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Palm Beach Gardens, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33410 | $5,642 | $5,642 | $5,642 | $5,642 | $5,642 |
| 33418 | $5,038 | $5,038 | $5,038 | $5,038 | $5,038 |
Source: Ownwell