Sarasota, North Carolina Property Taxes
The median property tax rate in Sarasota, 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 $835,150 in Sarasota, the typical annual property tax bill amounts to $3,341, surpassing the national median of $2,690. Property taxes in Sarasota are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Sarasota'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 Sarasota or another part of Avery County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sarasota, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$3,341
Ownwell’s Sarasota Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sarasota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sarasota 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 Sarasota, North Carolina
Property taxes in Sarasota, 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 Sarasota is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities in Sarasota set these rates annually, and they can vary across different neighborhoods. Each year, Sarasota 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 Sarasota's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 34239 has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Sarasota 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 Sarasota 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 Sarasota, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34231 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 34239 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Sarasota, North Carolina
In Sarasota, 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 Sarasota, 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 Sarasota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $6,081 in the 34239 zip code, while the lowest is $600 in the 34231 zip code.
Property Tax Assessment Values Across Sarasota, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Sarasota Assessed Value
$835,150
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 Sarasota, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34231 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 |
| 34239 | $1,520,300 | $1,520,300 | $1,520,300 | $1,520,300 | $1,520,300 |
Source: Ownwell
Property Tax Bills Across Sarasota, North Carolina
In Sarasota, Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is a percentage of the market value, reflecting the home's worth in the current real estate market. Factors such as location, size, and condition of the property contribute to this valuation. The local tax rate is then applied to the assessed value to determine the tax bill. Homeowners in Sarasota can expect a wide range of tax bills. For instance, the 25th percentile tax bill is around $1,970, while the 75th percentile reaches approximately $4,711. The 90th percentile tax bill can go up to $5,533. Comparatively, the national median property tax rate is 0.99%, which helps put these figures into perspective. The highest median tax bill in the area is $6,081, found in zip code 34239, while the lowest is $600 in zip code 34231. These variations significantly impact homeowners, influencing their financial planning and homeownership costs.
Average Sarasota Tax Bill
$3,341
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sarasota, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34231 | $600 | $600 | $600 | $600 | $600 |
| 34239 | $6,081 | $6,081 | $6,081 | $6,081 | $6,081 |
Source: Ownwell