Hot Springs, Madison County, North Carolina Property Taxes
Property Taxes in Hot Springs, North Carolina
Median Hot Springs, North Carolina effective property tax rate: 0.48%, significantly lower than the national median of 1.02%, and lower than the North Carolina state median of 0.81%.
Median Hot Springs, North Carolina home value: $223,230
Median annual Hot Springs, North Carolina tax bill: $1,001, $1,399 lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Hot Springs, 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 Hot Springs's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hot Springs, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Hot Springs, Madison County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.48%
Estimate Property Tax Bill
$1,072
$994
How Does the Hot Springs Property Tax Calculator Work?
Use this Hot Springs property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Hot Springs' median effective tax rate of 0.48% — based on actual property records in Madison 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 Hot Springs' 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 Hot Springs: rates range from 1001.00 in 28743 to 1001.00 in 28743, 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 Hot Springs.
About Hot Springs Property Taxes
About Property Taxes in Hot Springs, Madison, NC
Hot Springs’ median effective property tax rate of 0.48% is lower than the North Carolina state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Madison 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 Hot Springs. Homeowners in the 28743 ZIP code carry a median effective rate of 0.48%, while those in the same ZIP code also pay 0.48%. This reflects how school district boundaries and local assessment districts are drawn across Madison County. Understanding which part of Hot Springs you live in can make a meaningful difference to your annual tax bill.
Hot Springs homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the November 22, 2024 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 Hot Springs, Madison 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 Hot Springs's effective property tax rate to other cities in North Carolina and the median property tax rates in North Carolina and the U.S.
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 Hot Springs Tax Rate
0.48%
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 Madison County Tax Rate
0.49%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hot Springs, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28743 | 0.33% | 0.43% | 0.48% | 0.56% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Hot Springs, Madison County, North Carolina
When examining property taxes in Hot Springs, 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. Madison County 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:
In Madison County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Hot Springs is $223,230, with tax bills centered at $1,001 across ZIP code 28743. That bill is below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Property Tax Assessment Values Across Hot Springs, Madison County, North Carolina
Source: Ownwell
$223,230
$358,935
$494,639
Median Hot Springs Market Value
$223,230
Median Madison County Market Value
$306,765
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hot Springs, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28743 | $68,802 | $120,586 | $223,230 | $382,591 | $622,988 |
Source: Ownwell
Property Tax Bills Across Hot Springs, Madison County, North Carolina
Property tax bills in Hot Springs are based on the assessed value of a home, not its market price alone. Local tax rates are applied to that assessment to determine what a homeowner owes each year. For a home with a median value of $223,230, the final bill can vary widely depending on how the property is classified and how its assessed value compares with similar homes in Madison County.
Homeowners in Hot Springs see a range of tax bills, with the 25th percentile at $638 and the 75th percentile at $1,643. The 90th percentile reaches $2,495, showing how larger or more heavily taxed properties can face much higher costs. The median tax bill is $1,001, which is below the national median property tax bill of $2,400. That means many homeowners in Hot Springs pay less than the typical U.S. homeowner, but the amount still depends on the home’s assessed value, local tax rates, and any exemptions that may apply.
Property Tax Bills Across Hot Springs, Madison County, North Carolina
Source: Ownwell
$1,001
$1,672
$2,343
Median Hot Springs Tax Bill
$1,001
Median Madison County Tax Bill
$1,391
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Hot Springs, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28743 | $434 | $638 | $1,001 | $1,643 | $2,495 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | November 22 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | lrcpwa.ncptscloud.com |