Highlands, North Carolina Property Taxes
The median property tax rate in Highlands, NC is 0.34%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $740,480, the typical annual property tax bill in Highlands reaches $2,524, which is below the national median of $2,690. Property taxes in Highlands are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Highlands' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Highlands or another part of Macon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Highlands, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$2,518
$2,336
Ownwell’s Highlands Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Highlands with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Highlands 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 Highlands, North Carolina
Property taxes in Highlands, 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 Highlands is 0.34%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Highlands set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highlands 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 Highlands' effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in the state is 0.91%, while the lowest median tax rate is 0.31%. Understanding how these cities compare with Highlands provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Highlands Tax Rate
0.34%
Average Macon County Tax Rate
0.38%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highlands, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28741 | 0.30% | 0.30% | 0.34% | 0.40% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Highlands, North Carolina
In Highlands, 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 Macon 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 Highlands, 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 Highlands helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 28741, with a value of $2,524, which also happens to be the lowest median tax bill in the area.
Property Tax Assessment Values Across Highlands, North Carolina
Source: Ownwell
$209,490
$474,985
$740,480
Average Highlands Assessed Value
$740,480
Average Macon County Assessed Value
$263,040
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Highlands, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28741 | $293,132 | $468,190 | $740,480 | $1,259,110 | $1,963,556 |
Source: Ownwell
Property Tax Bills Across Highlands, North Carolina
In Highlands, located in Macon County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $740,480, homeowners can expect their property tax bills to vary significantly. At the 25th percentile, tax bills are around $1,592, while at the 75th percentile, they can reach up to $4,243. For those in the 90th percentile, the tax bill can be as high as $6,773. The local property tax rate in Highlands is notably lower than the national median property tax rate of 0.99%, making it relatively more affordable for homeowners. These tax bills can impact homeowners by influencing their overall cost of living and potentially affecting their decisions on property investments and homeownership. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Highlands Tax Bill
$2,524
Average Macon County Tax Bill
$945
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Highlands, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28741 | $973 | $1,592 | $2,524 | $4,243 | $6,773 |
Source: Ownwell