Balsam Grove, Transylvania County, North Carolina Property Taxes
Median Balsam Grove, NC effective property tax rate: 0.66%, significantly lower than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Balsam Grove, NC home value: $141,400
Median annual Balsam Grove, NC tax bill: $837, $1,563 lower than the national median property tax bill of $2,400.
How are property taxes in Transylvania calculated?
Property taxes in Balsam Grove, 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 Balsam Grove’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Balsam Grove, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Balsam Grove, Transylvania County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.66%
Estimate Property Tax Bill
$940
$872
Property Tax Rates Across Balsam Grove, Transylvania County, North Carolina
Local government entities set tax rates, which can vary widely within a state. 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 Balsam Grove’s effective property tax rate to other cities in North Carolina and the median property tax rates in North Carolina and the U.S. Balsam Grove, located in Transylvania County, has a property tax rate that is notably lower than the national median property tax rate of 1.02%. This difference can lead to significant savings for homeowners in the area, especially when compared to other regions across the country. However, it is essential to consider that while lower tax rates can be beneficial for property owners, they may also influence the level of public services provided. This balance between tax rates and public service funding is a crucial consideration for residents and policymakers alike.
Property Tax Rates Across Balsam Grove, 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 Balsam Grove 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
1.02%
Property Tax Rates Across Balsam Grove, Transylvania County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28708 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Balsam Grove, Transylvania County, North Carolina
When examining property taxes in Balsam Grove, 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 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.
In Transylvania 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 Balsam Grove. For example, the median home price in Balsam Grove is $141,400, with tax bills ranging significantly across the county. Zip code 28708 has the highest median home price at $141,400.
Property Tax Assessment Values Across Balsam Grove, Transylvania County, North Carolina
Source: Ownwell
$117,560
$190,445
$263,330
Median Balsam Grove Market Value
$142,400
Median Transylvania County Market Value
$220,620
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Balsam Grove, Transylvania County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28708 | $50,395 | $87,152 | $142,400 | $223,175 | $335,095 |
Source: Ownwell
Property Tax Bills Across Balsam Grove, Transylvania County, North Carolina
Property Tax Bills Across Balsam Grove, Transylvania County, North Carolina
Source: Ownwell
$773
$1,236
$1,698
Median Balsam Grove Tax Bill
$854
Median Transylvania County Tax Bill
$1,401
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Balsam Grove, Transylvania County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28708 | $304 | $546 | $854 | $1,391 | $2,123 |
Source: Ownwell