Alexander, Madison County, North Carolina Property Taxes
The median property tax rate in Alexander, NC is 0.56%, 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 Alexander at $277,603, the typical annual property tax bill reaches $1,487, which is well below the national median of $2,690. Property taxes in Alexander are calculated based on the assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Alexander'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 Alexander 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
Alexander, Madison County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,555
$1,443
Ownwell’s Alexander Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alexander with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alexander to provide an estimate of your property tax bill. This valuable tool gives you a clear understanding of potential tax liabilities. For those interested in more granular insights, localized information is available by scrolling down. Your property's assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Alexander, Madison County, North Carolina
Property taxes in Alexander, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexander is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Alexander set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexander 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 Alexander's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28701 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Alexander provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexander Tax Rate
0.56%
Average Madison County Tax Rate
0.62%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexander, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28701 | 0.50% | 0.50% | 0.56% | 0.58% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Alexander, Madison County, North Carolina
In Alexander, 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 Madison 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 Alexander helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Alexander, Madison County, North Carolina
Source: Ownwell
$140,735
$214,348
$287,960
Average Alexander Assessed Value
$277,603
Average Madison County Assessed Value
$177,610
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexander, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28701 | $94,661 | $192,248 | $277,603 | $311,062 | $376,188 |
Source: Ownwell
Property Tax Bills Across Alexander, Madison County, North Carolina
In Alexander, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local county assessor and is meant to reflect the market value of the property. Once the assessed value is established, a property tax rate is applied to calculate the tax bill. This tax rate is set by local government authorities and can vary from year to year. Several factors influence the assessed value, including the size of the property, its location, and any improvements made to it. For homeowners, this means that higher property values generally result in higher tax bills. For example, in Alexander, the median home price is $277,603. The tax bills in the area range significantly, with the 25th percentile at $1,141 and the 75th percentile at $1,672. This variability can impact household budgets, making it essential for homeowners to stay informed about property assessments and potential exemptions that may reduce their tax burden.
Average Alexander Tax Bill
$1,487
Average Madison County Tax Bill
$1,078
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexander, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28701 | $610 | $1,141 | $1,487 | $1,672 | $1,966 |
Source: Ownwell