Brasstown, North Carolina Property Taxes
The median property tax rate in Brasstown, NC is 0.68%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Brasstown at $174,370, the typical annual property tax bill comes to $1,074, significantly less than the national median of $2,690. Property taxes in Brasstown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brasstown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Brasstown or another part of Cherokee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brasstown, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,186
$1,100
Ownwell’s Brasstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brasstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brasstown 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 Brasstown, North Carolina
Property taxes in Brasstown, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brasstown is 0.68%, which is notably lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Brasstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brasstown 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 Brasstown's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28902 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Brasstown provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brasstown Tax Rate
0.68%
Average Cherokee County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brasstown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28902 | 0.25% | 0.65% | 0.68% | 0.71% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Brasstown, North Carolina
In Brasstown, 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 Cherokee 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 Brasstown, 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 Brasstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28902 has both the highest and lowest median tax bill at $1,074.
Property Tax Assessment Values Across Brasstown, North Carolina
Source: Ownwell
$60,060
$117,215
$174,370
Average Brasstown Assessed Value
$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 Brasstown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28902 | $46,238 | $100,460 | $174,370 | $267,330 | $386,234 |
Source: Ownwell
Property Tax Bills Across Brasstown, North Carolina
In Brasstown, Cherokee 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, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For example, with a median home price of $174,370, homeowners in Brasstown can expect varying tax bills. At the 25th percentile, the tax bill is around $487, while at the 75th percentile, it rises to approximately $1,729. For those at the 90th percentile, the tax bill can be as high as $2,412. These figures show how property taxes can significantly impact homeowners' finances, especially when compared to the national median property tax rate of 0.99%. Properly understanding these factors helps homeowners plan better for their yearly expenses and ensures they are prepared for any fluctuations in their property tax obligations.
Average Brasstown Tax Bill
$1,074
Average Cherokee County Tax Bill
$869
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Brasstown, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28902 | $134 | $487 | $1,074 | $1,729 | $2,412 |
Source: Ownwell