Jefferson, North Carolina Property Taxes
The median property tax rate in Jefferson, NC is 0.65%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Jefferson at $158,470, the typical annual property tax bill amounts to $1,030, falling below the national median of $2,690. Property taxes in Jefferson are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jefferson'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 Jefferson 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
Jefferson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,030
$956
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, North Carolina
Property taxes in Jefferson, 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 Jefferson is 0.65%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28640 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Ashe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
0.65%
Average Wilkes County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28640 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, North Carolina
In Jefferson, 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 local 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 Jefferson 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28640 has the highest and lowest median tax bill, both at $1,030, reflecting a uniformity in tax burdens across the area.
Property Tax Assessment Values Across Jefferson, North Carolina
Source: Ownwell
$87,490
$155,103
$222,715
Average Jefferson Assessed Value
$158,470
Average Wilkes County Assessed Value
$107,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28640 | $147,388 | $150,940 | $158,470 | $164,160 | $213,630 |
Source: Ownwell
Property Tax Bills Across Jefferson, North Carolina
Property tax bills in Jefferson, NC, are calculated based on the assessed value of the property and the local tax rate. The assessment is determined by the county, which evaluates the market value of the property. For instance, the median home price in Jefferson is $158,470. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the overall tax bill. Homeowners in Jefferson can expect their property tax bills to vary. The 25th percentile tax bill is approximately $981, while the 75th percentile tax bill is around $1,067. At the higher end, the 90th percentile tax bill reaches about $1,389. These figures highlight the range of property tax obligations in the area, with the median tax bill standing at $1,030. Compared to the national median property tax rate of 0.99%, Jefferson's rates show a significant impact on homeowners, reflecting the importance of understanding local property tax calculations.
Average Jefferson Tax Bill
$1,030
Average Wilkes County Tax Bill
$770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28640 | $958 | $981 | $1,030 | $1,067 | $1,389 |
Source: Ownwell