Leicester, Madison County, North Carolina Property Taxes
Property Taxes in Leicester, North Carolina
Median Leicester, North Carolina effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, and lower than the North Carolina state median of 0.81%.
Median Leicester, North Carolina home value: $360,633
Median annual Leicester, North Carolina tax bill: $1,537, lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Leicester, 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 Leicester's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Leicester, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Leicester, Madison County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.54%
Estimate Property Tax Bill
$1,947
$1,807
How Does the Leicester Property Tax Calculator Work?
Use this Leicester property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Leicester's median effective tax rate of 0.54% — 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 Leicester'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 Leicester: rates range from 0.54% in 28748 to 0.54% in 28748, primarily due to differences in school district levies and local assessment districts. Leicester’s median tax rate is lower than the 1.02% national median property tax rate and lower than North Carolina’s 0.81% state median tax rate.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Leicester.
About Leicester Property Taxes
About Property Taxes in Leicester, Madison, North Carolina
Leicester's median effective property tax rate of 0.54% 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 Leicester. Homeowners in the 28748 ZIP code carry a median effective rate of 0.54%, while those in 28748 pay 0.54%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Madison County. Understanding which part of Leicester you live in can make a meaningful difference to your annual tax bill.
Leicester 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 Leicester, 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 Leicester'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 Leicester Tax Rate
0.54%
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 Leicester, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28748 | 0.27% | 0.49% | 0.54% | 0.59% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Leicester, Madison County, North Carolina
When examining property taxes in Leicester, 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 Madison 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:
In Madison County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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 Leicester.
For example, the median home price in Leicester is $360,633, with tax bills ranging significantly across the county. 28748 has the highest median home price at $360,633.
Property Tax Assessment Values Across Leicester, Madison County, North Carolina
Source: Ownwell
$223,230
$358,935
$494,639
Median Leicester Market Value
$360,633
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 Leicester, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28748 | $95,932 | $209,695 | $360,633 | $578,468 | $784,351 |
Source: Ownwell
Property Tax Bills Across Leicester, Madison County, North Carolina
How are property tax bills calculated in Leicester, Madison, North Carolina? Property tax bills are determined by multiplying a home’s assessed value by the local tax rate, so the market value of the property is a key factor in the final bill. Local assessments, exemptions, and any applicable tax rates all influence what homeowners owe each year. Because the bill is based on assessed value rather than purchase price alone, changes in the housing market can affect taxes even if a homeowner has not moved.
What do homeowners in Leicester pay? The median home price is $360,633, and the median property tax bill in the area is $1,537 in ZIP code 28748. That is below the $2,400 national median property tax bill and below the 1.02% national median property tax rate. Bills can still vary widely, with the 25th percentile at $913 and the 75th percentile at $2,715. For homeowners, this means property taxes can have a meaningful impact on monthly housing costs and long-term affordability.
Property Tax Bills Across Leicester, Madison County, North Carolina
Source: Ownwell
$1,001
$1,672
$2,343
Median Leicester Tax Bill
$1,537
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 Leicester, Madison County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28748 | $568 | $913 | $1,537 | $2,715 | $3,877 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | November 22 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | lrcpwa.ncptscloud.com |