Asheville Real Estate - Asheville Property Taxes

Asheville Real Estate: Property Taxes

The popularity of our area has some unfortunate consequences as more people begin to live here.... Besides the crowds and the increasing traffic Asheville has experienced over the last decade, our taxes have increased as well.

Estimates now suggest that the overall tax burden in North Carolina is now about 11%, mostly because of an out-of-control increase in personal income state tax as more people begin to flood into the state, which has become one of the nation's now most popular areas for resettlement.

Compare this with the state of Alabama which is around 8%. Nonetheless, local property taxes have recently been on the decrease, though other taxes have summarily been on the increase which overall keeps the tax burden on the rise, and you know what the say about "death and taxes." Count on them! The continuing sad news is given below:

Cost of Housing in the Greater Asheville, NC Area

Property Tax
• Valuation is required every eight years; however, Buncombe County revaluates every four years.

• Assessments are based on 100 percent of appraised value.

• Rates are calculated per $100 of assessed value.

• Rates are determined annually.

• Only one valuation is done per county; however, county and city governments set separate rates based on the same valuation.

• Property located inside city limits is assessed both city and county taxes.

• Household tangible personal property in the personal residence of the owner is exempt.

Last Year of Revaluation 2007-2008, Next Revaluation 2011, Buncombe County

Buncombe County and Incorporated Area Rates (2007-2008)
City/Town	City Rate	County Rate	School Tax	Total Rate
City of Asheville	$0.420	$0.535	$0.150	$0.945
Biltmore Forest	$0.295	$0.525	-	$0.820
Black Mountain	$0.320	$0.525	-	$0.845
Montreat	$0.370	$0.525	-	$0.895
Weaverville	$0.380	$0.525	-	$0.905
Woodfin	$0.265	$0.525	0.100	$0.790
Hendersonville County and Incorporated Area Rates (2007-2008)
City of Henersonville	$0.0380	$0.462	-	$0.842
Hendersonville, Downtown	-	$0.462	-	$0.462
Flat Rock	$0.075	$0.462	-	$0.790
Fletcher	$0.095	$0.462	-	$0.557
Laurel park	$0.270	$0.462	-	$0.732
Mills River	$0.075	$0.462	-	$0.537

Source: Asheville Chamber of Commerce (2008)


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