Buncombe County, North Carolina Property Taxes
The median property tax rate in Buncombe County is 0.63%, which is 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 Buncombe County, the typical annual property tax bill reaches $1,904, which is below the national median of $2,690. Property taxes in Buncombe County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Buncombe County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Asheville or another part of Buncombe County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buncombe County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,693
$1,571
Ownwell’s Buncombe County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Buncombe County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Buncombe County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Buncombe County, North Carolina
Property taxes in Buncombe County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Buncombe County is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Buncombe County set these rates annually, and they can vary significantly between different areas within the county. Each year, Buncombe County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Buncombe County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Montreat has one of the higher property tax rates in North Carolina at 1.02%, while the city of Biltmore Forest boasts one of the lowest at 0.49%. Analyzing how Buncombe County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Buncombe County Tax Rate
0.63%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buncombe County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexander | 0.49% | 0.60% | 0.62% | 0.66% | 0.66% |
| Arden | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| Asheville | 0.59% | 0.62% | 0.89% | 1.00% | 1.00% |
| Barnardsville | 0.37% | 0.71% | 0.71% | 0.71% | 0.71% |
| Bat Cave | N/A | N/A | N/A | N/A | N/A |
| Biltmore Forest | N/A | N/A | N/A | N/A | N/A |
| Biltmore Lake | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| Black Mountain | 0.59% | 0.59% | 0.79% | 0.79% | 0.79% |
| Candler | 0.59% | 0.59% | 0.59% | 0.65% | 0.65% |
| Canton | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Challis | N/A | N/A | N/A | N/A | N/A |
| Clyde | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Fairview | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Fletcher | 0.59% | 0.59% | 0.63% | 0.63% | 0.63% |
| Hendersonville | 0.63% | 0.65% | 0.65% | 0.65% | 0.65% |
| Hendersonvlle | N/A | N/A | N/A | N/A | N/A |
| Leicester | 0.51% | 0.62% | 0.63% | 0.63% | 0.63% |
| Marshall | 0.46% | 0.63% | 0.63% | 0.66% | 0.66% |
| Mills River | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
| Montreat | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| Old Fort | N/A | N/A | N/A | N/A | N/A |
| Swannanoa | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Weaverville | 0.60% | 0.60% | 0.60% | 0.71% | 0.84% |
| Woodfin | 0.92% | 0.92% | 0.92% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Buncombe County, North Carolina
In Buncombe County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Buncombe County Appraisal District. The assessed value, however, 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. Assessment notices in Buncombe County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Biltmore Lake has the highest median tax bill at $3,561, while Woodfin has the lowest at $489. Being aware of these valuation processes in Buncombe County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Buncombe County, North Carolina
Source: Ownwell
$53,200
$328,050
$602,900
Average Buncombe County Assessed Value
$268,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buncombe County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexander | $71,880 | $136,600 | $238,000 | $330,000 | $438,340 |
| Arden | $131,690 | $200,500 | $266,850 | $377,975 | $630,340 |
| Asheville | $137,100 | $205,850 | $283,700 | $405,100 | $614,340 |
| Barnardsville | $54,640 | $98,200 | $178,600 | $283,500 | $416,320 |
| Bat Cave | N/A | N/A | N/A | N/A | N/A |
| Biltmore Forest | N/A | N/A | N/A | N/A | N/A |
| Biltmore Lake | $457,850 | $518,975 | $602,900 | $722,325 | $899,680 |
| Black Mountain | $111,520 | $189,600 | $271,800 | $380,300 | $533,380 |
| Candler | $64,300 | $134,200 | $213,800 | $300,900 | $394,340 |
| Canton | $97,250 | $190,950 | $293,550 | $365,000 | $454,420 |
| Challis | N/A | N/A | N/A | N/A | N/A |
| Clyde | $265,040 | $309,400 | $361,700 | $479,250 | $584,760 |
| Fairview | $79,300 | $162,850 | $282,400 | $429,675 | $635,650 |
| Fletcher | $128,270 | $238,425 | $367,500 | $528,425 | $791,080 |
| Hendersonville | $141,700 | $207,375 | $258,100 | $308,975 | $339,090 |
| Hendersonvlle | N/A | N/A | N/A | N/A | N/A |
| Leicester | $57,960 | $108,550 | $215,300 | $314,850 | $425,040 |
| Marshall | $49,000 | $73,750 | $125,250 | $220,325 | $328,110 |
| Mills River | $291,100 | $359,025 | $444,400 | $539,725 | $634,550 |
| Montreat | $158,540 | $237,250 | $343,250 | $448,275 | $709,830 |
| Old Fort | N/A | N/A | N/A | N/A | N/A |
| Swannanoa | $85,600 | $151,350 | $216,100 | $293,300 | $386,800 |
| Weaverville | $80,720 | $189,350 | $283,700 | $380,900 | $513,560 |
| Woodfin | $16,980 | $30,000 | $53,200 | $103,000 | $180,260 |
Source: Ownwell
Property Tax Bills Across Buncombe County, North Carolina
In Buncombe 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. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Homeowners in Buncombe County experience a range of property tax bills. The 25th percentile tax bill is $1,187, while the 75th percentile reaches $2,880, and the 90th percentile can be as high as $4,389. The highest median tax bill in the county is found in Biltmore Lake at $3,561, whereas the lowest is in Woodfin at $489. These tax bills impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Buncombe County's tax rates significantly affect the affordability and financial planning for residents. Understanding these factors helps homeowners better prepare for their annual expenses.
Average Buncombe County Tax Bill
$1,904
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Buncombe County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexander | $353 | $767 | $1,468 | $2,033 | $2,631 |
| Arden | $670 | $1,175 | $1,582 | $2,251 | $3,705 |
| Asheville | $880 | $1,544 | $2,345 | $3,471 | $5,366 |
| Barnardsville | $280 | $584 | $1,125 | $1,857 | $2,736 |
| Bat Cave | N/A | N/A | N/A | N/A | N/A |
| Biltmore Forest | N/A | N/A | N/A | N/A | N/A |
| Biltmore Lake | $2,667 | $3,061 | $3,561 | $4,260 | $5,322 |
| Black Mountain | $660 | $1,254 | $1,954 | $2,837 | $4,032 |
| Candler | $344 | $765 | $1,279 | $1,852 | $2,469 |
| Canton | $611 | $1,200 | $1,809 | $2,293 | $2,855 |
| Challis | N/A | N/A | N/A | N/A | N/A |
| Clyde | $1,656 | $1,931 | $2,227 | $2,900 | $3,228 |
| Fairview | $433 | $931 | $1,726 | $2,636 | $3,937 |
| Fletcher | $691 | $1,376 | $2,204 | $3,191 | $4,704 |
| Hendersonville | $918 | $1,344 | $1,672 | $1,993 | $2,197 |
| Hendersonvlle | N/A | N/A | N/A | N/A | N/A |
| Leicester | $310 | $590 | $1,260 | $1,869 | $2,547 |
| Marshall | $264 | $407 | $747 | $1,332 | $1,981 |
| Mills River | $1,875 | $2,135 | $2,613 | $3,163 | $3,718 |
| Montreat | $1,566 | $2,394 | $3,492 | $4,603 | $7,573 |
| Old Fort | N/A | N/A | N/A | N/A | N/A |
| Swannanoa | $451 | $877 | $1,333 | $1,809 | $2,392 |
| Weaverville | $440 | $1,076 | $1,808 | $2,532 | $3,483 |
| Woodfin | $145 | $259 | $489 | $879 | $1,699 |
Source: Ownwell