Tryon, North Carolina Property Taxes
The median property tax rate in Tryon, NC is 0.64%, 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 $237,364 in Tryon, the typical annual property tax bill amounts to $1,510, which is well below the national median of $2,690. Property taxes in Tryon 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 Tryon'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 Tryon or another part of Polk County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tryon, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,519
Ownwell’s Tryon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tryon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tryon 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 Tryon, North Carolina
Property taxes in Tryon, 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 Tryon is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Tryon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tryon 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 Tryon's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28782 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Tryon provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tryon Tax Rate
0.64%
Average Polk County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tryon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28782 | 0.57% | 0.57% | 0.64% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Tryon, North Carolina
In Tryon, 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 Polk 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 Tryon, 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 Tryon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28782 has the highest and lowest median tax bill at $1,510.
Average Tryon Assessed Value
$237,364
Average Polk County Assessed Value
$228,216
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tryon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28782 | $91,791 | $150,307 | $237,364 | $375,583 | $571,453 |
Source: Ownwell
Property Tax Bills Across Tryon, North Carolina
In Tryon, located in Polk County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county tax assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. For example, in Tryon, the median home price is $237,364, which provides a baseline for understanding tax obligations. Homeowners in Tryon see a range of tax bills depending on their property's value. The 25th percentile tax bill is approximately $941, while the 75th percentile reaches about $2383. At the higher end, the 90th percentile tax bill can be as much as $3682. The highest median tax bill in the area is $1510, which is also the lowest, indicating a consistent rate across the region. Compared to the national median property tax rate of 0.99%, Tryon's property tax rates offer a clear perspective on how local taxes impact homeowners.
Average Tryon Tax Bill
$1,510
Average Polk County Tax Bill
$1,542
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Tryon, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28782 | $572 | $941 | $1,510 | $2,383 | $3,682 |
Source: Ownwell