28720 Property Tax Rate

Property owners in ZIP code 28720 (Chimney Rock, North Carolina) pay a median of $1,563/year in property taxes on homes valued at $361,100. This translates to an effective tax rate of 0.43%, which is 39% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28720 is approximately $130, which factors into escrow payments on mortgages. This ZIP code is located within Rutherford County.

Compared to similar ZIP codes in North Carolina, 28720 has higher property taxes. ZIP codes with similar effective rates include 28605 (0.43%) and 28654 (0.43%).

North Carolina revalues property every four years at market value; your home will be reassessed at purchase price during the next revaluation cycle. Rutherford County offers a Homestead Property Tax Exclusion ($25,000 for seniors 65+, disabled, or widows; $20,000 for all other homeowners with qualifying income) — complete the application through the Rutherford County Tax Assessor's office within statutory deadlines. Contact the Rutherford County Tax Assessor before your first tax bill to confirm homestead status and lock in the exemption.