Sherrills Ford, North Carolina Property Taxes
The median property tax rate in Sherrills Ford, 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 Sherrills Ford at $358,200, the typical annual property tax bill amounts to $1,433, well below the national median of $2,690. Property taxes in Sherrills Ford are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sherrills Ford’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 Sherrills Ford or another part of Avery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sherrills Ford, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,433
$1,330
Ownwell’s Sherrills Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sherrills Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sherrills Ford 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 Sherrills Ford, North Carolina
Property taxes in Sherrills Ford, 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 Sherrills Ford is 0.56%, which is lower than the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Sherrills Ford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sherrills Ford 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 Sherrills Ford's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28202 has the highest median property tax rate of 1.31%, while the zip code 28752 has the lowest median tax rate of 0.47%. Understanding how these areas compare with Sherrills Ford 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 Sherrills Ford 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 Sherrills Ford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28673 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Sherrills Ford, North Carolina
In Sherrills Ford, 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 Sherrills Ford, 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 Sherrills Ford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sherrills Ford, both at $1433, can be found in the 28673 zip code.
Property Tax Assessment Values Across Sherrills Ford, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Sherrills Ford Assessed Value
$358,200
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 Sherrills Ford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28673 | $358,200 | $358,200 | $358,200 | $358,200 | $358,200 |
Source: Ownwell
Property Tax Bills Across Sherrills Ford, North Carolina
In Sherrills Ford, located in Avery County, NC, property tax bills are determined based on the assessed value of the home. The median home price in this area is $358,200. Property taxes are calculated by multiplying the assessed value by the local tax rate. For instance, the median property tax bill in Sherrills Ford is $1,433, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the local tax rate set by the county. Homeowners in Sherrills Ford benefit from a relatively low property tax burden, making it an appealing location for residents looking for affordability. The uniformity in tax bills, as indicated by the 25th, 75th, and 90th percentiles all being $1,433, suggests a stable and predictable tax environment. This stability can provide homeowners with a sense of financial security and predictability in their annual budgeting.
Average Sherrills Ford Tax Bill
$1,433
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sherrills Ford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28673 | $1,433 | $1,433 | $1,433 | $1,433 | $1,433 |
Source: Ownwell