Bakersville, North Carolina Property Taxes
The median property tax rate in Bakersville, NC is 0.63%, considerably lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Bakersville at $146,500, the typical annual property tax bill reaches $873, significantly below the national median of $2,690. Property taxes in Bakersville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bakersville'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 Bakersville 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
Bakersville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$923
Ownwell’s Bakersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bakersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bakersville 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 Bakersville, North Carolina
Property taxes in Bakersville, 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 Bakersville is 0.63%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Bakersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bakersville 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 Bakersville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 28705 zip code 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 Bakersville compares with other areas provides valuable insights into the varying tax landscape across Mitchell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bakersville Tax Rate
0.63%
Average Mitchell County Tax Rate
0.63%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bakersville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28705 | 0.50% | 0.63% | 0.63% | 0.63% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Bakersville, North Carolina
In Bakersville, 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 Mitchell 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 Bakersville, 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 Bakersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $873.00, found in the 28705 zip code.
Property Tax Assessment Values Across Bakersville, North Carolina
Source: Ownwell
$132,800
$156,425
$180,050
Average Bakersville Assessed Value
$146,500
Average Mitchell County Assessed Value
$141,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bakersville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28705 | $18,600 | $69,700 | $146,500 | $249,500 | $371,440 |
Source: Ownwell
Property Tax Bills Across Bakersville, North Carolina
In Bakersville, located in Mitchell County, NC, property tax bills are calculated based on a combination of assessed property values and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For homeowners in Bakersville, the median home price stands at $146,500. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements, and market trends. For example, in Bakersville, property tax bills range significantly, with the 25th percentile at $435 and the 75th percentile at $1,515. At the higher end, the 90th percentile tax bill reaches $2,284. This variability underscores the importance of accurate property assessments and the impact of local tax rates. Homeowners in Bakersville may find their tax bills either above or below the national median property tax rate of 0.99%, reflecting the unique economic and property conditions in their area. Accurate assessments and understanding local tax policies are crucial for managing these expenses effectively.
Average Bakersville Tax Bill
$873
Average Mitchell County Tax Bill
$856
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Bakersville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28705 | $172 | $435 | $873 | $1,515 | $2,284 |
Source: Ownwell