Weaverville, North Carolina Property Taxes
The median property tax rate in Weaverville, NC is 0.63%, 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 Weaverville at $287,960, the typical annual property tax bill amounts to $1,833, which is well below the national median of $2,690. Property taxes in Weaverville are determined based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Weaverville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Weaverville or another part of Madison County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weaverville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,814
$1,683
Ownwell’s Weaverville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weaverville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weaverville 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 Weaverville, North Carolina
Property taxes in Weaverville, 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 Weaverville stands at 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Weaverville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weaverville 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 Weaverville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28787 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these rates compare with Weaverville 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 Weaverville Tax Rate
0.63%
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 Weaverville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28787 | 0.59% | 0.60% | 0.63% | 0.67% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Weaverville, North Carolina
In Weaverville, 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 in Weaverville 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 Weaverville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Weaverville, the highest and lowest median tax bills are both $1,833, found in the zip code 28787.
Property Tax Assessment Values Across Weaverville, North Carolina
Source: Ownwell
$140,735
$214,348
$287,960
Average Weaverville Assessed Value
$287,960
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 Weaverville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28787 | $95,004 | $162,632 | $287,960 | $404,732 | $489,464 |
Source: Ownwell
Property Tax Bills Across Weaverville, North Carolina
In Weaverville, located in Madison County, NC, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the county assessor and typically reflects the market value of the property. For a median home price of $287,960, the tax bill can vary significantly. For instance, homeowners in the 25th percentile can expect to pay around $1,049 annually, while those in the 75th percentile might see a tax bill of approximately $2,549. The top 10% of homeowners could face property taxes as high as $2,987. These property tax bills are influenced by various factors, including the property's location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Weaverville's rates can have a substantial impact on a homeowner’s annual budget. Understanding these factors helps homeowners plan their finances and anticipate their yearly property tax obligations.
Average Weaverville Tax Bill
$1,833
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 Weaverville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28787 | $677 | $1,049 | $1,833 | $2,549 | $2,987 |
Source: Ownwell