Sugar Grove, North Carolina Property Taxes
The median property tax rate in Sugar Grove, NC is 0.40%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With a median home value of $152,650 in Sugar Grove, the typical annual property tax bill amounts to $546, well below the national median of $2,690. Property taxes in Sugar Grove are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sugar Grove'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 Sugar Grove 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
Sugar Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$611
Ownwell’s Sugar Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Grove 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 Sugar Grove, North Carolina
Property taxes in Sugar Grove, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar Grove is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Sugar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Grove 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 Sugar Grove's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28679 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Sugar Grove 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 Sugar Grove 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 Sugar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28679 | 0.35% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Grove, North Carolina
In Sugar Grove, 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 Sugar Grove, 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 Sugar Grove 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 $546, found in the 28679 zip code.
Property Tax Assessment Values Across Sugar Grove, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Sugar Grove Assessed Value
$152,650
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 Sugar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28679 | $7,500 | $53,500 | $152,650 | $254,925 | $431,440 |
Source: Ownwell
Property Tax Bills Across Sugar Grove, North Carolina
In Sugar Grove, Avery County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Sugar Grove can expect their property tax bill to vary significantly, with the 25th percentile tax bill being $208 and the 75th percentile reaching $1001. For those at the higher end, the 90th percentile tax bill can be as much as $1523. The local tax rate, when applied to the assessed value, determines the annual property tax bill. This rate is influenced by local government budgets and needs, which means it can fluctuate over time. Homeowners in Sugar Grove should be aware that their property tax bill not only depends on their home's value but also on the county's financial requirements. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens.
Average Sugar Grove Tax Bill
$546
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28679 | $30 | $208 | $546 | $1,001 | $1,523 |
Source: Ownwell