Tampa, North Carolina Property Taxes
The median property tax rate in Tampa, 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 $132,500 in Tampa, the typical annual property tax bill is approximately $530, well below the national median of $2,690. Property taxes in Tampa are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tampa'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 Tampa 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
Tampa, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$530
$492
Ownwell’s Tampa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tampa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tampa 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 Tampa, North Carolina
Property taxes in Tampa, 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 Tampa is 0.40%, which is significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Tampa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tampa 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 Tampa's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 33613 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Tampa 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 Tampa 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 Tampa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33613 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33626 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33629 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33647 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Tampa, North Carolina
In Tampa, 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 Tampa, 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. For instance, the zip code 33629 has the highest median tax bill at $1,280, while 33613 has the lowest at $530. 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 Tampa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Tampa, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Tampa Assessed Value
$132,500
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 Tampa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33613 | $132,500 | $132,500 | $132,500 | $432,500 | $612,500 |
| 33626 | $165,000 | $165,000 | $165,000 | $165,000 | $165,000 |
| 33629 | $276,000 | $292,500 | $320,000 | $407,500 | $460,000 |
| 33647 | $2,200 | $2,200 | $2,200 | $19,850 | $215,660 |
Source: Ownwell
Property Tax Bills Across Tampa, North Carolina
In Tampa, 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. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Tampa is $132,500, and property tax rates in Avery County can vary significantly. For example, in zip code 33629, the highest median tax bill is $1,280, whereas in zip code 33613, the lowest median tax bill is $530. Factors such as property location, home improvements, and market conditions can influence the assessed value. Homeowners in Tampa might see tax bills ranging from the 25th percentile at $9 to the 90th percentile at $1,965. These variations highlight the importance of understanding how property taxes are calculated, as they can significantly impact household budgets. With the national median property tax rate at 0.99%, Tampa's property taxes can be relatively manageable but vary widely depending on specific circumstances.
Average Tampa Tax Bill
$530
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Tampa, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33613 | $530 | $530 | $530 | $1,731 | $2,451 |
| 33626 | $660 | $660 | $660 | $660 | $660 |
| 33629 | $1,104 | $1,170 | $1,280 | $1,630 | $1,840 |
| 33647 | $9 | $9 | $9 | $79 | $863 |
Source: Ownwell