Asheville, North Carolina Property Taxes
The median property tax rate in Asheville, NC is 0.89%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Asheville at $283,700, the typical annual property tax bill reaches $2,345, which is below the national median of $2,690. Property taxes in Asheville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Asheville'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 Asheville 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
Asheville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$2,525
-$26,461
Ownwell’s Asheville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Asheville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Asheville 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 Asheville, North Carolina
Property taxes in Asheville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Asheville is 0.89%, which is slightly below the U.S. national median of 0.99%. Local government entities within Asheville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Asheville 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 Asheville's effective property tax rate to other areas in Buncombe County and the national median. For comparison, the 28801 zip code has the highest median property tax rate of 1.00%, while the 28805 zip code has the lowest median tax rate of 0.89%. Understanding how these areas compare with Asheville provides valuable insights into the varying tax landscape across Buncombe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Asheville Tax Rate
0.89%
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 Asheville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28704 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
| 28715 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
| 28801 | 0.89% | 1.00% | 1.00% | 1.00% | 1.00% |
| 28803 | 0.49% | 0.60% | 0.89% | 0.89% | 0.89% |
| 28804 | 0.60% | 0.74% | 0.92% | 1.00% | 1.00% |
| 28805 | 0.63% | 0.63% | 0.89% | 0.89% | 0.89% |
| 28806 | 0.59% | 0.62% | 0.89% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Asheville, North Carolina
In Asheville, 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 Buncombe County Assessor 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 Asheville, 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 Asheville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Asheville is $3,328 in the 28801 zip code, while the lowest median tax bill is $380 in the 28715 zip code.
Property Tax Assessment Values Across Asheville, North Carolina
Source: Ownwell
$42,650
$322,775
$602,900
Average Asheville Assessed Value
$283,700
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 Asheville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28704 | $101,320 | $181,150 | $314,200 | $1,223,750 | $1,769,480 |
| 28715 | $33,090 | $36,675 | $42,650 | $48,625 | $52,210 |
| 28801 | $204,810 | $257,150 | $355,950 | $523,675 | $721,080 |
| 28803 | $149,500 | $199,900 | $283,700 | $429,300 | $754,200 |
| 28804 | $122,300 | $235,400 | $362,600 | $537,700 | $795,680 |
| 28805 | $161,230 | $217,000 | $290,200 | $387,625 | $516,900 |
| 28806 | $111,600 | $183,600 | $245,800 | $310,600 | $407,320 |
Source: Ownwell
Property Tax Bills Across Asheville, North Carolina
In Asheville, property tax bills are calculated based on the assessed value of a home, which is determined by the Buncombe County tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's size, location, and market conditions influence its assessed value. For example, the median home price in Asheville is $283,700, which helps set a baseline for tax calculations. Homeowners in Asheville can expect tax bills to vary significantly. The 25th percentile tax bill is around $1,544, while the 75th percentile reaches $3,471. For those at the 90th percentile, tax bills can soar to approximately $5,366. The highest median tax bill in the area is $3,328 in the 28801 zip code, contrasting sharply with the lowest median tax bill of $380 in the 28715 zip code. These property taxes fund essential public services, such as schools, emergency services, and infrastructure, directly impacting the quality of life in Asheville.
Average Asheville Tax Bill
$2,345
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 Asheville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28704 | $903 | $1,614 | $2,800 | $10,904 | $15,766 |
| 28715 | $295 | $327 | $380 | $433 | $465 |
| 28801 | $1,783 | $2,392 | $3,328 | $5,043 | $7,054 |
| 28803 | $1,005 | $1,512 | $2,207 | $3,325 | $5,438 |
| 28804 | $988 | $1,905 | $3,135 | $5,020 | $7,495 |
| 28805 | $981 | $1,634 | $2,262 | $3,036 | $4,014 |
| 28806 | $653 | $1,280 | $1,970 | $2,783 | $3,646 |
Source: Ownwell