28660 Property Tax Rate

Property owners in ZIP code 28660 (Olin, North Carolina) pay a median of $1,023/year in property taxes on homes valued at $189,500. This translates to an effective tax rate of 0.54%, which is 24% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28660 is approximately $85, which factors into escrow payments on mortgages. This ZIP code is located within Iredell County. This is $568 less than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 28660 has higher property taxes. ZIP codes with similar effective rates include 27341 (0.54%) and 28625 (0.54%).

In Olin, property taxes represent approximately 1.4% of the median household income of $74,403, providing context for the relative tax burden on homeowners in this area.

North Carolina revalues property every four years at market value; your home will be reassessed to the purchase price during the next revaluation cycle. Iredell County offers a Homestead Property Tax Exclusion reducing assessed value by $20,000–$25,000 for homeowners 65+, permanently disabled, or widows (income limits apply) — file the application with the Iredell County Tax Assessor's office. Contact the Iredell County Tax Assessor before your first tax bill to submit your homestead exemption claim.