28701 Property Tax Rate

Property owners in ZIP code 28701 (Alexander, North Carolina) pay a median of $2,003/year in property taxes on homes valued at $290,500. This translates to an effective tax rate of 0.69%, which is 4% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28701 is approximately $167, which factors into escrow payments on mortgages. This ZIP code is located within Buncombe County. This is $412 more than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 28701 has higher property taxes. ZIP codes with similar effective rates include 27501 (0.69%) and 27313 (0.69%).

In Alexander, property taxes represent approximately 2.2% of the median household income of $92,047, providing context for the relative tax burden on homeowners in this area.

North Carolina assesses property at market value with no annual growth cap, and your home will be reassessed at purchase price when you acquire it. Buncombe County provides a Homestead Property Tax Exemption ($25,000 reduction for primary residences) and Senior Tax Relief programs — apply with the Buncombe County Tax Assessor's office shortly after closing to lock in these benefits. Monitor your tax bill following the next revaluation to confirm the exemption was applied and request a review if the assessed value appears excessive.