Redmond, North Carolina Property Taxes
The median property tax rate in Redmond, 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 Redmond, the typical annual property tax bill reaches $600, which is well below the national median of $2,690. Property taxes in Redmond are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Redmond'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 Redmond 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
Redmond, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$600
Ownwell’s Redmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Redmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Redmond 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 Redmond, North Carolina
Property taxes in Redmond, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Redmond is 0.75%, significantly lower than the U.S. national median of 0.99%. Local government entities within Redmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Redmond 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 Redmond's effective property tax rate to other counties in North Carolina and the national median. For comparison, ZIP code 27517 has the highest median property tax rate of 1.25%, while ZIP code 28704 has the lowest median tax rate of 0.55%. Understanding how these cities compare with Redmond 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 Redmond 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 Redmond, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98052 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Redmond, North Carolina
In Redmond, 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 Redmond, 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 Redmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Redmond is $150,000, with the highest and lowest median tax bills both recorded at $600 in zip code 98052.
Property Tax Assessment Values Across Redmond, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Redmond Assessed Value
$150,000
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 Redmond, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98052 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 |
Source: Ownwell
Property Tax Bills Across Redmond, North Carolina
In Redmond, Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $150,000 and a consistent tax rate, the tax bill for homes in the 25th, 75th, and 90th percentiles is $600. This suggests a uniform tax rate across different property values. Factors influencing the assessed value include the property's location, size, and condition, as well as market trends. Homeowners can expect their property tax bill to reflect these variables, impacting their overall financial planning. Compared to the national median property tax rate of 0.99%, Redmond's effective tax rate appears to be consistent, providing a predictable tax environment for residents. This stability can be beneficial for homeowners in budgeting and long-term financial planning.
Average Redmond Tax Bill
$600
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Redmond, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98052 | $600 | $600 | $600 | $600 | $600 |
Source: Ownwell