28622 Property Tax Rate

Property owners in ZIP code 28622 (Elk Park, North Carolina) pay a median of $661/year in property taxes on homes valued at $171,100. This translates to an effective tax rate of 0.39%, which is 46% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28622 is approximately $55, which factors into escrow payments on mortgages. This ZIP code is located within Avery County. This is $930 less than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 28622 has higher property taxes. ZIP codes with similar effective rates include 28788 (0.38%) and 28709 (0.38%).

In Elk Park, property taxes represent approximately 1.5% of the median household income of $45,169, providing context for the relative tax burden on homeowners in this area.

North Carolina values property at market value with no annual growth cap, and your home will be reassessed at purchase price when you buy. Avery County provides a Homestead Property Tax Exemption ($25,000 reduction for primary residences) and a Senior Exemption program — apply with the Avery County Tax Assessor's office within the first year of ownership to claim these deductions. After closing, contact the assessor to request a property record card and verify that your purchase price is accurately reflected in the assessment.