Yorktown, North Carolina Property Taxes
The median property tax rate in Yorktown, 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 Yorktown, the typical annual property tax bill is $16, well below the national median of $2,690. Property taxes in Yorktown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yorktown'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 Yorktown 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
Yorktown, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$16
Ownwell’s Yorktown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Yorktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorktown 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 Avery County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Yorktown, North Carolina
Property taxes in Yorktown, 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 Yorktown is 0.87%, slightly lower than the North Carolina state median of 0.85% but still below the U.S. national median of 0.99%. Local government entities within Yorktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorktown 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 Yorktown's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28752 zip code has the highest median property tax rate of 1.22%, while the 28777 zip code has the lowest median tax rate of 0.40%. Understanding how these cities compare with Yorktown 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 Yorktown 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 Yorktown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23692 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Yorktown, North Carolina
In Yorktown, 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 local 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 Yorktown, 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 Yorktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Yorktown, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Yorktown Assessed Value
$4,000
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 Yorktown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23692 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
Source: Ownwell
Property Tax Bills Across Yorktown, North Carolina
In Yorktown, Avery County, NC, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and reflects the market value of the property. The tax rate, which is set by local government authorities, is then applied to this assessed value to determine the annual tax bill. For homeowners in Yorktown, the median home price is $4,000. Property tax bills can vary significantly, with the 25th, 75th, and 90th percentiles all paying around $16 annually. This suggests a relatively uniform tax burden across different property values within the area. Compared to the national median property tax rate of 0.99%, Yorktown's property tax rates appear to be quite low, providing a financial advantage to homeowners. These property taxes contribute to local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly.
Average Yorktown Tax Bill
$16
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorktown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23692 | $16 | $16 | $16 | $16 | $16 |
Source: Ownwell