Vilas, North Carolina Property Taxes
The median property tax rate in Vilas, NC is 0.40%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Vilas, the typical annual property tax bill reaches $1,004, significantly less than the national median of $2,690. Property taxes in Vilas 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 Vilas'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 Vilas 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
Vilas, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,037
Ownwell’s Vilas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vilas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vilas 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 Vilas, North Carolina
Property taxes in Vilas, 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 Vilas is 0.40%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Vilas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vilas 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 Vilas's effective property tax rate to other counties in North Carolina and the national median. Understanding how these cities compare with Vilas provides valuable insights into the varying tax landscape across Watauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vilas Tax Rate
0.40%
Average Watauga County Tax Rate
0.41%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vilas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28692 | 0.37% | 0.38% | 0.40% | 0.41% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Vilas, North Carolina
In Vilas, 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 Watauga 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 Vilas, 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 Vilas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Vilas, the median home price is $259,350. The highest median tax bill is $1,004 in zip code 28692, while the lowest median tax bill is also $1,004 in the same zip code. This uniformity in tax bills can provide a clearer picture for homeowners looking to understand their property tax obligations.
Average Vilas Assessed Value
$259,350
Average Watauga County Assessed Value
$321,300
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vilas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28692 | $95,490 | $164,725 | $259,350 | $393,975 | $615,460 |
Source: Ownwell
Property Tax Bills Across Vilas, North Carolina
In Vilas, North Carolina, 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 and reflects the market value of the property. The tax rate is applied to this assessed value to calculate the annual property tax bill. For instance, the median home price in Vilas is $259,350, and property taxes can vary significantly. Homeowners in the 25th percentile pay around $676 annually, while those in the 75th percentile may see bills as high as $1,491. The 90th percentile experiences even higher tax bills, reaching up to $2,279. These tax bills impact homeowners by influencing their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, the rates in Vilas can be seen as relatively moderate, providing a balanced approach to funding local services without imposing excessive burdens on residents. This careful calculation ensures that the community's needs are met while maintaining affordability for homeowners.
Average Vilas Tax Bill
$1,004
Average Watauga County Tax Bill
$1,552
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Vilas, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28692 | $414 | $676 | $1,004 | $1,491 | $2,279 |
Source: Ownwell