Cherokee County Property Taxes
The median property tax rate in Cherokee County is 0.71%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $128,225 in Cherokee County, the typical annual property tax bill amounts to $869, significantly less than the national median of $2,690. Property taxes in Cherokee 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 Cherokee 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 Murphy or another part of Cherokee County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cherokee County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$910
$845
Ownwell’s Cherokee County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Cherokee County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Cherokee 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 Cherokee County, North Carolina
Property taxes in Cherokee County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cherokee County is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Cherokee County set these rates annually, and they can vary significantly between different areas within the county. Each year, Cherokee 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 Cherokee County's effective property tax rate with other areas in North Carolina and the national median. For comparison, the city of Topton has one of the higher property tax rates in North Carolina at 0.73%, while the city of Brasstown boasts one of the lowest at 0.68%. Analyzing how Cherokee County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Cherokee County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Cherokee County, North Carolina
In Cherokee 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 Cherokee 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 Cherokee 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, Brasstown has the highest median tax bill at $1,074, while Topton has the lowest at $478. Being aware of these valuation processes in Cherokee 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 Cherokee County, North Carolina
Source: Ownwell
$60,060
$117,215
$174,370
Average Cherokee County Assessed Value
$128,225
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cherokee County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Andrews | $21,000 | $47,200 | $91,020 | $151,405 | $229,800 |
| Brasstown | $46,238 | $100,460 | $174,370 | $267,330 | $386,234 |
| Marble | $20,596 | $43,535 | $91,870 | $160,715 | $237,384 |
| Murphy | $35,320 | $78,435 | $138,610 | $206,765 | $288,640 |
| Topton | $33,228 | $38,815 | $60,060 | $88,090 | $124,128 |
Source: Ownwell
Property Tax Bills Across Cherokee County, North Carolina
In Cherokee County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is a percentage of the market value of the property. Tax rates are then applied to this assessed value to determine the final tax bill. Several factors influence property tax bills, including the home's location, size, and condition. For instance, in Cherokee County, the median home price is $128,225. Homeowners can expect varying tax bills depending on their property’s value and location. For example, the 25th percentile tax bill is around $452, while the 75th percentile reaches $1,333. Higher-end properties, such as those in the 90th percentile, can see tax bills as high as $1,903. Comparatively, the highest median tax bill in the county is $1,074 in Brasstown, while the lowest is $478 in Topton. These variations highlight the importance of property value and location in determining tax obligations. Understanding these factors can help homeowners anticipate their annual property tax expenses and budget accordingly.
Average Cherokee County Tax Bill
$869
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690