Sylva, North Carolina Property Taxes
The median property tax rate in Sylva, NC is 0.24%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Sylva at $398,070, the typical annual property tax bill is $748, which is well below the national median of $2,690. Property taxes in Sylva 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 Sylva'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 Sylva 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
Sylva, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.24%
Estimate Property Tax Bill
$955
Ownwell’s Sylva Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sylva with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sylva 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 Sylva, North Carolina
Property taxes in Sylva, North Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sylva is 0.24%, significantly lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Sylva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sylva 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 Sylva's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in North Carolina is 1.21%, while the lowest median tax rate is 0.45%. Understanding how these cities compare with Sylva 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 Sylva Tax Rate
0.24%
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 Sylva, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28779 | 0.14% | 0.17% | 0.24% | 0.30% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Sylva, North Carolina
In Sylva, 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. 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 Sylva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Sylva, the zip code 28779 has both the highest and lowest median tax bill at $748.
Average Sylva Assessed Value
$398,070
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 Sylva, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28779 | $271,582 | $319,015 | $398,070 | $477,125 | $524,558 |
Source: Ownwell
Property Tax Bills Across Sylva, North Carolina
In Sylva, located in Macon County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to determine the annual property tax bill. For instance, if the assessed value of a home is $398,070, and the tax rate is applied, homeowners can expect to pay a tax bill that varies within certain percentiles. The 25th percentile tax bill is $685, while the 75th percentile is $812, and the 90th percentile reaches $850. This means that most homeowners in Sylva pay property taxes within this range. These property taxes are crucial as they fund local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Sylva Tax Bill
$748
Average Macon County Tax Bill
$945
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sylva, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28779 | $647 | $685 | $748 | $812 | $850 |
Source: Ownwell