Horse Shoe, North Carolina Property Taxes
The median property tax rate in Horse Shoe, 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 Horse Shoe at $340,300, the typical annual property tax bill is $1,430, which is well below the national median of $2,690. Property taxes in Horse Shoe 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 Horse Shoe'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 Horse Shoe or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Horse Shoe, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$1,463
Ownwell’s Horse Shoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horse Shoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horse Shoe 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 Horse Shoe, North Carolina
Property taxes in Horse Shoe, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Horse Shoe is 0.43%, significantly lower than the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Horse Shoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horse Shoe 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 Horse Shoe's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28742 has the highest median property tax rate of 0.43%, while the same zip code also has the lowest median tax rate of 0.43%. Understanding how these areas compare with Horse Shoe 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 Horse Shoe 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 Horse Shoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28742 | 0.30% | 0.40% | 0.43% | 0.47% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Horse Shoe, North Carolina
In Horse Shoe, 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 Horse Shoe, 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 Horse Shoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28742 has the highest and lowest median tax bill at $1,430, which is significantly lower than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Horse Shoe, North Carolina
Source: Ownwell
$10,000
$189,000
$368,000
Average Horse Shoe Assessed Value
$340,300
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 Horse Shoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28742 | $142,500 | $238,525 | $340,300 | $467,275 | $674,820 |
Source: Ownwell
Property Tax Bills Across Horse Shoe, North Carolina
In Horse Shoe, NC, property tax bills are calculated based on the assessed value of a home and the applicable tax rate set by Henderson County. The median home price in this area is $340,300. Homeowners can expect their tax bills to vary significantly depending on the value of their property. For example, the 25th percentile tax bill is $864, while those in the 75th percentile pay around $2,030. The 90th percentile tax bill can go up to $2,837. Several factors contribute to the final tax bill, including the property's market value, any applicable exemptions, and the local tax rate. The highest and lowest median tax bills in the area are both $1,430, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, emergency services, and infrastructure. Understanding how these taxes are calculated can help homeowners budget more effectively and potentially seek exemptions or appeals to lower their tax burden.
Average Horse Shoe Tax Bill
$1,430
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 Horse Shoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28742 | $504 | $864 | $1,430 | $2,030 | $2,837 |
Source: Ownwell