Cherokee, North Carolina Property Taxes
The median property tax rate in Cherokee, NC is 0.36%, 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 Cherokee, the typical annual property tax bill reaches $530, which is well below the national median of $2,690. Property taxes in Cherokee are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cherokee'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 Cherokee or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cherokee, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.36%
Estimate Property Tax Bill
$477
Ownwell’s Cherokee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cherokee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cherokee 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 Cherokee, North Carolina
Property taxes in Cherokee, 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 Cherokee is 0.36%, which is lower than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Cherokee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cherokee 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 Cherokee's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in the region is found in zip code 28713, with a rate of 0.42%, while the lowest median tax rate is in zip code 28719, at 0.36%. Understanding how these areas compare with Cherokee provides valuable insights into the varying tax landscape across Swain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cherokee Tax Rate
0.36%
Average Swain County Tax Rate
0.44%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cherokee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28719 | 0.33% | 0.36% | 0.36% | 0.36% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Cherokee, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cherokee, North Carolina. 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 Swain 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 Cherokee 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. The median home price in Cherokee is $132,630, with tax bills ranging from $424 at the 25th percentile to $702 at the 90th percentile. The highest and lowest median tax bills are both $530, found in the 28719 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cherokee, North Carolina
Source: Ownwell
$132,630
$289,835
$447,040
Average Cherokee Assessed Value
$132,630
Average Swain County Assessed Value
$144,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cherokee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28719 | $38,600 | $108,070 | $132,630 | $171,400 | $197,772 |
Source: Ownwell
Property Tax Bills Across Cherokee, North Carolina
In Cherokee, located in Swain County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Cherokee can expect their property tax bills to vary significantly depending on their home's assessed value. For example, the tax bill for homes in the 25th percentile is around $424, while those in the 75th percentile pay about $628. The 90th percentile tax bill reaches up to $702. These figures indicate that property taxes in Cherokee are relatively moderate compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the area are both $530, found in the 28719 zip code. Understanding these factors is crucial for homeowners as they directly influence annual financial planning and the overall cost of homeownership in Cherokee.
Average Cherokee Tax Bill
$530
Average Swain County Tax Bill
$651
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Cherokee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28719 | $308 | $424 | $530 | $628 | $702 |
Source: Ownwell