Marshall, North Carolina Property Taxes
The median property tax rate in Marshall, NC is 0.63%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Marshall, the typical annual property tax bill reaches $747, well below the national median of $2,690. Property taxes in Marshall 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 Marshall'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 Marshall 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
Marshall, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$789
Ownwell’s Marshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshall 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 Marshall, North Carolina
Property taxes in Marshall, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshall is 0.63%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28753 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Marshall 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 Marshall Tax Rate
0.63%
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 Marshall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28753 | 0.46% | 0.63% | 0.63% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, North Carolina
In Marshall, 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 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. Assessment notices in Marshall 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 Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28753 has the highest and lowest median tax bill, both at $747.
Property Tax Assessment Values Across Marshall, North Carolina
Source: Ownwell
$42,650
$322,775
$602,900
Average Marshall Assessed Value
$125,250
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 Marshall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28753 | $49,000 | $73,750 | $125,250 | $220,325 | $328,110 |
Source: Ownwell
Property Tax Bills Across Marshall, North Carolina
In Marshall, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the Buncombe County tax assessor and reflects the market value of the property. Homeowners in Marshall typically see a range of tax bills, with the 25th percentile paying around $407 and the 75th percentile paying up to $1,332 annually. For those at the higher end, the 90th percentile tax bill can reach $1,981. The median home price in Marshall is $125,250, which influences the overall tax burden. Compared to the national median property tax rate of 0.99%, Marshall's tax rates are relatively moderate. Factors such as property condition, location, and market trends impact the assessed value, thus affecting the tax bill. Homeowners need to be aware of these variables as they can significantly influence their annual property tax obligations. Understanding how these elements interplay can help homeowners better anticipate and manage their property tax expenses.
Average Marshall Tax Bill
$747
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 Marshall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28753 | $264 | $407 | $747 | $1,332 | $1,981 |
Source: Ownwell