Vale, North Carolina Property Taxes
The median property tax rate in Vale, NC is 0.71%, lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Vale at $167,102, the typical annual property tax bill amounts to $1,208, well below the national median of $2,690. Property taxes in Vale 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 Vale'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 Vale or another part of Burke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vale, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,186
-$12,434
Ownwell’s Vale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vale 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 Vale, North Carolina
Property taxes in Vale, 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 Vale is 0.71%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Vale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vale 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 Vale's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28168 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Vale 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 Vale Tax Rate
0.71%
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 Vale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28168 | 0.65% | 0.67% | 0.71% | 0.71% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Vale, North Carolina
In Vale, 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 Vale, 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 Vale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Vale's median home price is $167,102, with tax bills ranging from $795 at the 25th percentile to $1,462 at the 75th percentile. The highest and lowest median tax bills are both $1,208 in zip code 28168.
Average Vale Assessed Value
$167,102
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 Vale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28168 | $82,036 | $113,936 | $167,102 | $205,085 | $227,875 |
Source: Ownwell
Property Tax Bills Across Vale, North Carolina
In Vale, located in Burke 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's office, which evaluates the property's market value. For instance, the median home price in Vale is $167,102. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Vale can see a range of tax bills. At the 25th percentile, tax bills are around $795, while at the 75th percentile, they reach approximately $1,462. The highest tax bills, at the 90th percentile, can be as much as $1,615. These property taxes significantly impact homeowners by affecting their annual housing costs. Compared to the national median property tax rate of 0.99%, Vale's tax rates offer a glimpse into the local economic landscape, influencing decisions on homeownership and investment in the area.
Average Vale Tax Bill
$1,208
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 Vale, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28168 | $548 | $795 | $1,208 | $1,462 | $1,615 |
Source: Ownwell