Spruce Pine, North Carolina Property Taxes
The median property tax rate in Spruce Pine, 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 Spruce Pine at $67,800, the typical annual property tax bill is $271, far below the national median of $2,690. Property taxes in Spruce Pine are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. By understanding the property tax system in Spruce Pine, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Spruce Pine or another part of Avery County, gaining insights into the local property tax system can provide significant financial benefits.
Last Updated June 14, 2024
Spruce Pine, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$271
Ownwell’s Spruce Pine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spruce Pine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spruce Pine 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 Spruce Pine, North Carolina
Property taxes in Spruce Pine, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spruce Pine is 0.40%, significantly lower than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Spruce Pine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spruce Pine 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 Spruce Pine's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28777 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Spruce Pine 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 Spruce Pine 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 Spruce Pine, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28777 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Spruce Pine, North Carolina
In Spruce Pine, 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 Avery County 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 Spruce Pine, 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 Spruce Pine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28777 has the highest median tax bill at $271, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Spruce Pine, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Spruce Pine Assessed Value
$67,800
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 Spruce Pine, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28777 | $7,600 | $14,400 | $67,800 | $129,950 | $191,200 |
Source: Ownwell
Property Tax Bills Across Spruce Pine, North Carolina
In Spruce Pine, Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate. For example, with a median home price of $67,800, homeowners can expect tax bills that vary widely. The 25th percentile tax bill is around $55, while the 75th percentile tax bill is approximately $493. At the 90th percentile, tax bills can reach up to $748. These figures illustrate the range of property taxes that homeowners might encounter, influenced by factors such as property size, location, and market conditions. For many homeowners, understanding these variations is crucial for financial planning. Compared to the national median property tax rate of 0.99%, Spruce Pine's property tax rates can be seen as relatively moderate. This can make the area more appealing for those looking to manage their living expenses effectively.
Average Spruce Pine Tax Bill
$271
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Spruce Pine, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28777 | $25 | $55 | $271 | $493 | $748 |
Source: Ownwell