Sugar Mountain, North Carolina Property Taxes
The median property tax rate in Sugar Mountain, NC is 0.40%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Sugar Mountain at $197,900, the typical annual property tax bill reaches $809, well below the national median of $2,690. Property taxes in Sugar Mountain are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sugar Mountain'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 Sugar Mountain 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 Mountain, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$792
Ownwell’s Sugar Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Mountain 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 Mountain, North Carolina
Property taxes in Sugar Mountain, 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 Sugar Mountain 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 Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Mountain 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 Mountain's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28604 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Sugar Mountain 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 Mountain 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 Mountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28604 | 0.40% | 0.40% | 0.40% | 0.42% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Mountain, North Carolina
In Sugar Mountain, 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 Mountain, 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 Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In this region, the median home price is $197,900, with the highest and lowest median tax bills both at $809 in the 28604 zip code.
Property Tax Assessment Values Across Sugar Mountain, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Sugar Mountain Assessed Value
$197,900
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 Mountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28604 | $115,400 | $158,900 | $197,900 | $299,950 | $482,900 |
Source: Ownwell
Property Tax Bills Across Sugar Mountain, North Carolina
In Sugar Mountain, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is distinct from its market value. The median home price in this area is $197,900. Homeowners' tax bills vary widely, with the 25th percentile tax bill at $636 and the 75th percentile at $1,206. The 90th percentile tax bill reaches up to $1,903, reflecting the range of property values and tax rates within the city. The property tax rate in Sugar Mountain affects homeowners by influencing their annual expenses. When compared to the national median property tax rate of 0.99%, the tax burden here can be relatively moderate to high depending on the specific assessed value of the property. The highest median tax bill recorded in the area is $809, which is consistent across the zip code 28604. This system ensures that property taxes are proportionate to the value of the home, impacting homeowners' financial planning and housing affordability.
Average Sugar Mountain Tax Bill
$809
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 Mountain, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28604 | $470 | $636 | $809 | $1,206 | $1,903 |
Source: Ownwell