Wilmington, Avery County, North Carolina Property Taxes

Local government entities are responsible for setting tax rates, which can significantly differ within a state. Each county determines its necessary budget to fund services and divides that by the total assessed value of all taxable properties in its area, resulting in the property tax rate. Though votes and legislation play roles in establishing tax rates and budgets, this is essentially the annual procedure.

In Wilmington, located in Avery County, North Carolina, the effective property tax rate is a key consideration for homeowners. When compared to other cities in North Carolina, Wilmington's rate is notably lower. The median property tax rate in North Carolina is 0.40%, which is less than half of the national median property tax rate of 1.02%. This makes Wilmington an attractive option for property owners seeking lower tax obligations. Additionally, the median property tax bill in North Carolina is significantly below the national median of $2,400, further highlighting the cost advantages of owning property in this region.

Wilmington's favorable property tax rates, combined with North Carolina's overall lower tax burden, offer a compelling reason for property owners to consider this area for investment and residence.

In Wilmington, located in Avery County, NC, property tax bills are determined by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Homeowners in Wilmington face a median property tax bill that aligns closely with the national median of $2,400. However, there is a significant range in tax bills, with the 25th percentile at $411 and the 75th percentile at $1,689. This variation reflects differences in property values and specific assessments.

For homeowners, these tax bills can represent a substantial annual expense. Fortunately, Ownwell can help alleviate this burden. By providing expert property tax appeal and exemption services, Ownwell assists homeowners in understanding their assessments and identifying opportunities to reduce their tax liabilities. Our team of professionals works diligently to ensure that homeowners are not overpaying and are taking advantage of any available tax relief options. This can lead to significant savings, allowing homeowners to allocate their resources more effectively.