Palm Coast, North Carolina Property Taxes
The median property tax rate in Palm Coast, 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 Palm Coast at $225,000, the typical annual property tax bill amounts to $900, well below the national median of $2,690. Property taxes in Palm Coast are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Palm Coast'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 Palm Coast 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 Coast, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$900
$835
Ownwell’s Palm Coast Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palm Coast with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palm Coast 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 Coast, North Carolina
Property taxes in Palm Coast, 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 Coast is 0.65%, which is significantly higher than the North Carolina state median of 0.70%, but still below the U.S. national median of 0.99%. Local government entities within Palm Coast set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palm Coast 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 Coast's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28751 zip code has the highest median property tax rate of 1.15%, while the 28754 zip code has the lowest median tax rate of 0.45%. Understanding how these cities compare with Palm Coast 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 Coast 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 Palm Coast, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32137 | 0.37% | 0.38% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Palm Coast, North Carolina
In Palm Coast, 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 Palm Coast, 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 Coast helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $900, found in zip code 32137.
Property Tax Assessment Values Across Palm Coast, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Palm Coast Assessed Value
$225,000
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 Coast, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32137 | $149,240 | $177,650 | $225,000 | $464,100 | $607,560 |
Source: Ownwell
Property Tax Bills Across Palm Coast, North Carolina
In Palm Coast, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. For example, with a median home price of $225,000, homeowners can expect their tax bills to vary significantly. Factors such as the property's location within Avery County, any applicable exemptions, and the specific tax rate in the area all influence the final amount. In Palm Coast, the tax bill for the 25th percentile is around $711, while the 75th percentile sees bills of approximately $1,739. High-value properties in the 90th percentile can face tax bills up to $2,242. Comparing this to the national median property tax rate of 0.99%, Palm Coast's tax rates can have a varied impact on homeowners, making it essential to understand these factors for accurate financial planning.
Average Palm Coast Tax Bill
$900
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 Coast, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32137 | $597 | $711 | $900 | $1,739 | $2,242 |
Source: Ownwell