Old Fort, Buncombe County, North Carolina Property Taxes

Name: Property Tax Bills Across Old Fort, Buncombe County, North Carolina
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median OLD FORT, NC effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the NC state median of 0.82%.
Median OLD FORT, NC home value: $300,650
Median annual OLD FORT, NC tax bill: $1,948, $452 lower than the national median property tax bill of $2,400.

How are property taxes in Buncombe calculated?

Property taxes in OLD FORT, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding OLD FORT’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OLD FORT, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Old Fort, Buncombe County, North Carolina Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.65%

Estimate Property Tax Bill

$1,954

$1,813

Ownwell’s Old Fort Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Old Fort with just two data points. By entering your property's estimated assessed value, our calculator applies Old Fort’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Buncombe. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Old Fort, Buncombe County, North Carolina

Local government entities establish property tax rates, which can vary significantly across different regions. This variation occurs because each county calculates its budget requirements annually to provide necessary services and then divides this by the total assessed value of all taxable properties within its jurisdiction. This process determines the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is essentially how the system functions each year.

In Old Fort, located in McDowell County, North Carolina, property tax rates reflect this annual calculation. When comparing Old Fort's effective property tax rate to other cities within North Carolina, as well as the state's median rate and the national median, it becomes evident how these local rates can differ. The national median property tax rate stands at 1.02%, with a median bill of $2,400. This provides a useful benchmark for understanding how Old Fort's property tax rate aligns with broader trends. By examining these comparisons, property owners can gain insight into where their tax obligations stand relative to regional and national averages.

Property Tax Rates Across Old Fort, Buncombe County, North Carolina

Source: Ownwell

0.59%

0.81%

1.02%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Old Fort Tax Rate

0.65%

Median Effective Buncombe County Tax Rate

0.63%

Median Effective North Carolina Tax Rate

0.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Old Fort, Buncombe County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
28762	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Old Fort, Buncombe County, North Carolina

When examining property taxes in Old Fort, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Buncombe County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: Buncombe County sends assessment notices in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Old Fort. For example, the median home price in Old Fort is $300,650, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Old Fort, Buncombe County, North Carolina

Source: Ownwell

$53,200

$328,050

$602,900

Median Old Fort Market Value

$300,650

Median Buncombe County Market Value

$268,800

Median North Carolina Market Value

$197,136

Median United States Market Value

$235,294

Property Tax Assessment Values Across Old Fort, Buncombe County, North Carolina

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
28762	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Old Fort, Buncombe County, North Carolina

In Old Fort, located in Buncombe County, NC, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value. For homeowners in Old Fort, the median home price is $300,650. Property tax bills in this area vary, with the 25th percentile at $1,399 and the 75th percentile reaching $2,188. While these figures are below the national median property tax bill of $2,400, they still represent a significant expense for homeowners. Factors such as renovations, neighborhood changes, and market fluctuations can influence the assessed value, potentially increasing the tax burden. Homeowners might not be aware of potential inaccuracies in their assessments, leading to overpayment. This is where Ownwell steps in, offering expert property tax appeal services. By identifying discrepancies and advocating for fair assessments, Ownwell can help homeowners potentially reduce their property tax bills, ensuring they pay only their fair share.

Property Tax Bills Across Old Fort, Buncombe County, North Carolina

Source: Ownwell

$489

$2,025

$3,561

Median Old Fort Tax Bill

$1,948

Median Buncombe County Tax Bill

$1,904

Median North Carolina Tax Bill

$1,615

Median United States Tax Bill

$2,400

Property Tax Bills Across Old Fort, Buncombe County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
28762	N/A	N/A	N/A	N/A	N/A

Source: Ownwell