Flat Rock, North Carolina Property Taxes
The median property tax rate in Flat Rock, NC is 0.43%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Flat Rock at $349,350, the typical annual property tax bill amounts to $1,434, which is well below the national median of $2,690. Property taxes in Flat Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Flat Rock'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 Flat Rock or another part of Henderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Flat Rock, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,502
Ownwell’s Flat Rock Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Flat Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flat Rock to provide an estimate of 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 Flat Rock, North Carolina
Property taxes in Flat Rock, 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 Flat Rock is 0.43%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Flat Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Flat Rock 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 Flat Rock's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28731 zip code has both the highest and lowest median property tax rate of 0.43%. Understanding how these cities compare with Flat Rock provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flat Rock Tax Rate
0.43%
Average Henderson County Tax Rate
0.44%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flat Rock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28731 | 0.32% | 0.39% | 0.43% | 0.49% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Flat Rock, North Carolina
In Flat Rock, 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 Henderson 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 Flat Rock, 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 Flat Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28731 has both the highest and lowest median tax bill, standing at $1,434.
Property Tax Assessment Values Across Flat Rock, North Carolina
Source: Ownwell
$10,000
$189,000
$368,000
Average Flat Rock Assessed Value
$349,350
Average Henderson County Assessed Value
$308,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flat Rock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28731 | $85,330 | $187,425 | $349,350 | $532,750 | $815,370 |
Source: Ownwell
Property Tax Bills Across Flat Rock, North Carolina
In Flat Rock, located in Henderson County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $349,350. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate, which can vary. For instance, homeowners in the 25th percentile can expect a tax bill around $798, while those in the 75th percentile might see bills closer to $2,191. The highest tax bills, found in the 90th percentile, can reach up to $3,354. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Compared to the national median property tax rate of 0.99%, Flat Rock's property taxes can vary significantly, affecting the overall affordability of homeownership in this picturesque North Carolina community.
Average Flat Rock Tax Bill
$1,434
Average Henderson County Tax Bill
$1,336
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Flat Rock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28731 | $350 | $798 | $1,434 | $2,191 | $3,354 |
Source: Ownwell