Valdese, North Carolina Property Taxes
The median property tax rate in Valdese, NC is 0.80%, slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $153,894 in Valdese, the typical annual property tax bill amounts to $1,310, which is below the national median of $2,690. Property taxes in Valdese are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Valdese'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 Valdese or another part of Burke County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Valdese, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,231
-$12,902
Ownwell’s Valdese Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valdese with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valdese 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 Valdese, North Carolina
Property taxes in Valdese, 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 Valdese is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Valdese set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valdese 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 Valdese's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28690 zip code in Burke County has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Valdese provides valuable insights into the varying tax landscape across Burke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Valdese Tax Rate
0.80%
Average Burke County Tax Rate
0.72%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valdese, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28690 | 0.68% | 0.71% | 0.80% | 1.13% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Valdese, North Carolina
In Valdese, 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 Burke 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 Valdese, 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 Valdese helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Valdese is $1,310 in zip code 28690, while the lowest median tax bill is also $1,310 in the same zip code.
Average Valdese Assessed Value
$153,894
Average Burke County Assessed Value
$144,639
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Valdese, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28690 | $59,592 | $99,540 | $153,894 | $220,652 | $310,641 |
Source: Ownwell
Property Tax Bills Across Valdese, North Carolina
In Valdese, Burke County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in the area is $153,894. Homeowners in Valdese can expect their tax bills to vary widely, with the 25th percentile at $837 and the 75th percentile at $1949. The highest median tax bill in the area is $1310, which is notably below the national median property tax rate of 0.99%. Factors influencing the tax bill include the assessed value of the property, local tax rates, and any applicable exemptions or deductions. Homeowners in Valdese benefit from relatively low property taxes compared to national standards, which can make homeownership more affordable. However, variations in tax bills can still significantly affect household budgets, especially for those at the higher end of the spectrum, where the 90th percentile tax bill reaches $2756. Understanding these factors can help homeowners better anticipate and manage their annual property tax obligations.
Average Valdese Tax Bill
$1,310
Average Burke County Tax Bill
$1,021
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Valdese, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28690 | $477 | $837 | $1,310 | $1,949 | $2,756 |
Source: Ownwell