Property Taxes in Lake Toxaway, North Carolina
Median Lake Toxaway, North Carolina effective property tax rate: 0.66%, significantly lower than the national median of 1.02%, and lower than the North Carolina state median of 0.81%.
Median Lake Toxaway, North Carolina home value: $214,870
Median annual Lake Toxaway, North Carolina tax bill: $1,378, $1,022 lower than the national median property tax bill of $2,400.
How are property taxes in Transylvania calculated?
Property taxes in Lake Toxaway, North Carolina 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 Lake Toxaway's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Toxaway, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Lake Toxaway Property Tax Calculator Work?
Use this Lake Toxaway property tax calculator to estimate your annual property tax bill. Enter your property’s assessed value and our calculator applies Lake Toxaway’s median effective tax rate of 0.66% — based on actual property records in Transylvania County — to generate your estimate.
Enter your property’s estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home’s market value. Our calculator applies Lake Toxaway’s median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lake Toxaway: rates range from 0.66% in 28747 to 0.66% in 28747, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lake Toxaway.
About Lake Toxaway Property Taxes
About Property Taxes in Lake Toxaway, Transylvania, North Carolina
Lake Toxaway’s median effective property tax rate of 0.66% is lower than the North Carolina state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Transylvania County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Lake Toxaway. Homeowners in the 28747 ZIP code carry a median effective rate of 0.66%, while those in the same ZIP also pay 0.66%. Understanding how your property is assessed can still make a meaningful difference to your annual tax bill, especially when the median property tax bill is $1,378, which is lower than the North Carolina state median by $1,022.
Lake Toxaway homeowners who believe their assessed value is too high can file a formal appeal with the Transylvania County Tax Assessor before the May 4, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lake Toxaway, Transylvania County, North Carolina
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lake Toxaway's effective property tax rate to other cities in North Carolina and the median property tax rates in North Carolina and the U.S.
Property Tax Rates Across Lake Toxaway, Transylvania County, North Carolina
Source: Ownwell
0.66%
0.66%
0.66%
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 Lake Toxaway Tax Rate
0.66%
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 Transylvania County Tax Rate
0.66%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Lake Toxaway, Transylvania County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28747 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Lake Toxaway, Transylvania County, North Carolina
When examining property taxes in Lake Toxaway, North Carolina, 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 Transylvania 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 are sent in the spring each year and typically reach your mailbox by the middle of the season. 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.
For example, the median home price in Lake Toxaway is $214,870, with a median tax bill of $1,378. That is below the national median property tax bill of $2,400 and reflects a tax rate environment that can vary across the county.
Property Tax Assessment Values Across Lake Toxaway, Transylvania County, North Carolina
Source: Ownwell
$117,560
$190,445
$263,330
Median Lake Toxaway Market Value
$214,870
Median Transylvania County Market Value
$220,620
Median North Carolina Market Value
$221,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Lake Toxaway, Transylvania County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28747 | $76,364 | $118,768 | $214,870 | $473,540 | $1,020,996 |
Source: Ownwell
Property Tax Bills Across Lake Toxaway, Transylvania County, North Carolina
Property tax bills in Lake Toxaway are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. That means the bill depends on both the value of the home and the tax rate set by local taxing authorities in Transylvania County.
For a home with a median market value of $214,870, property taxes can vary widely depending on the assessed value and any applicable exemptions or local levies. The typical bill in the area ranges from $748 at the 25th percentile to $3,049 at the 75th percentile, with the 90th percentile reaching $6,623. The median tax bill in ZIP code 28747 is $1,378.
For homeowners, this means property taxes can be a significant ongoing cost, especially when home values rise. Because the bill is tied to assessed value, even small changes in valuation can affect what a homeowner owes each year.
Property Tax Bills Across Lake Toxaway, Transylvania County, North Carolina
Source: Ownwell
$773
$1,236
$1,698
Median Lake Toxaway Tax Bill
$1,378
Median Transylvania County Tax Bill
$1,401
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$3,209
Property Tax Bills Across Lake Toxaway, Transylvania County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28747 | $456 | $748 | $1,378 | $3,049 | $6,623 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 4 |
Links | |
|---|---|
| Transylvania Tax Assessor | |
| Website | tax.transylvaniacounty.org |