Elk Park, Avery County, North Carolina Property Taxes
Median ELK PARK, NC effective property tax rate: 0.40%, significantly lower than the national median of 1.02%, but lower than the NC state median of 0.82%.
Median ELK PARK, NC home value: $81,350
Median annual ELK PARK, NC tax bill: $316, $2,084 lower than the national median property tax bill of $2,400.
How are property taxes in Avery County calculated?
Property taxes in ELK PARK, 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 ELK PARK’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ELK PARK, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elk Park, Avery County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.4%
Estimate Property Tax Bill
$312
$290
Property Tax Rates Across Elk Park, Avery County, North Carolina
Local government entities determine tax rates, which can differ significantly within a state. This variation arises because each county annually estimates its budgetary needs for services and divides this by the total value of all taxable property within its area, resulting in the property tax rate. Although the process involves votes and legal frameworks to set tax rates and budgets, this is the essential annual procedure.
In Elk Park, located in Avery County, North Carolina, the effective property tax rate is 0.40%. This rate is significantly lower than both the North Carolina median property tax rate and the national median property tax rate of 1.02%. The lower rate in Elk Park can be an attractive factor for property owners, especially when compared to the national median property tax bill of $2,400. This appealing rate could make Elk Park a desirable location for those seeking to minimize their property tax expenses while enjoying the benefits of local services.
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 Elk Park Tax Rate
0.40%
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 Avery County Tax Rate
0.40%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elk Park, Avery County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28622 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Elk Park, Avery County, North Carolina
When examining property taxes in Elk Park, 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 Avery 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.
In Avery County, assessment notices are sent 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 Elk Park. For example, the median home price in Elk Park is $81,350, with tax bills ranging significantly across the county. Zip code 28622 has the highest median home price at $81,350.
Property Tax Assessment Values Across Elk Park, Avery County, North Carolina
Source: Ownwell
$2,200
$375,325
$748,450
Median Elk Park Market Value
$78,100
Median Avery County Market Value
$127,900
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elk Park, Avery County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28622 | $4,000 | $15,050 | $78,100 | $174,525 | $312,870 |
Source: Ownwell
Property Tax Bills Across Elk Park, Avery County, North Carolina
In Elk Park, property tax bills are calculated based on the assessed value of a home, with the median home price at $81,350. The tax rate is applied to this assessed value to determine the annual tax bill. In Avery County, the highest and lowest median tax bills are both $316, reflecting a uniformity in tax assessments across the area. This is significantly lower than the national median property tax bill of $2,400, providing some relief to homeowners in Elk Park. However, with tax bills ranging from the 25th percentile at $80 to the 90th percentile at $1,134, there can be considerable variation in what homeowners pay.
Factors such as changes in property value and local tax rate adjustments can impact the tax bill. This is where Ownwell can be a valuable ally. By offering property tax appeal and exemption services, Ownwell helps homeowners in Elk Park potentially reduce their tax bills, ensuring they are not overpaying and are taking advantage of all available exemptions.
Median Elk Park Tax Bill
$311
Median Avery County Tax Bill
$517
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Elk Park, Avery County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28622 | $16 | $76 | $311 | $666 | $1,132 |
Source: Ownwell