Fontana Dam, North Carolina Property Taxes
The median property tax rate in Fontana Dam, NC, is 0.59%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Fontana Dam at $181,050, the typical annual property tax bill reaches $1,045, which is significantly below the national median of $2,690. Property taxes in Fontana Dam 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 Fontana Dam'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 Fontana Dam or another part of Graham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fontana Dam, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,068
-$11,195
Ownwell’s Fontana Dam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fontana Dam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fontana Dam 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 Fontana Dam, North Carolina
Property taxes in Fontana Dam, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fontana Dam is 0.59%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Fontana Dam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fontana Dam 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 Fontana Dam's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28733 zip code has the highest median property tax rate of 0.59%, while the 28733 zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Fontana Dam provides valuable insights into the varying tax landscape across Graham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fontana Dam Tax Rate
0.59%
Average Graham County Tax Rate
0.59%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fontana Dam, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28733 | 0.30% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Fontana Dam, North Carolina
In Fontana Dam, 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 Graham 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 Fontana Dam, 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 Fontana Dam helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fontana Dam is $181,050, with tax bills ranging from $487 at the 25th percentile to $2,081 at the 90th percentile. The zip code 28733 has both the highest and lowest median tax bills at $1,045.
Property Tax Assessment Values Across Fontana Dam, North Carolina
Source: Ownwell
$121,930
$307,158
$492,385
Average Fontana Dam Assessed Value
$181,050
Average Graham County Assessed Value
$124,715
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fontana Dam, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28733 | $61,170 | $97,380 | $181,050 | $262,290 | $352,700 |
Source: Ownwell
Property Tax Bills Across Fontana Dam, North Carolina
In Fontana Dam, located in Graham County, NC, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in this area is $181,050. Homeowners in Fontana Dam can expect their property tax bills to vary widely, with the 25th percentile tax bill at $487, the 75th percentile at $1,548, and the 90th percentile reaching $2,081. These values reflect how property taxes can differ significantly depending on the assessed value of the property and any applicable exemptions. The property tax rate in Graham County influences these calculations, and it is essential to note that the national median property tax rate is 0.99%. For homeowners in Fontana Dam, understanding these factors is crucial, as property taxes impact their annual financial planning. Comparing these figures with the national median can help homeowners gauge whether their tax bills are relatively high or low, thereby aiding in better financial management.
Average Fontana Dam Tax Bill
$1,045
Average Graham County Tax Bill
$769
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Fontana Dam, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28733 | $261 | $487 | $1,045 | $1,548 | $2,081 |
Source: Ownwell