28754 Property Tax Rate

Property owners in ZIP code 28754 (Mars Hill, North Carolina) pay a median of $1,406/year in property taxes on homes valued at $289,700. This translates to an effective tax rate of 0.49%, which is 32% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28754 is approximately $117, which factors into escrow payments on mortgages. This ZIP code is located within Madison County.

Compared to similar ZIP codes in North Carolina, 28754 has higher property taxes. ZIP codes with similar effective rates include 28762 (0.48%) and 28742 (0.48%).

In Mars Hill, property taxes represent approximately 2.0% of the median household income of $68,750, providing context for the relative tax burden on homeowners in this area.

North Carolina reassesses property at market value upon sale with no statewide limit on tax increases — Madison County will use your purchase price to establish the new tax base. Madison County provides a $25,000 Homestead Exemption for owner-occupied primary residences; file your claim with the Madison County Tax Assessor within 30 days of purchase to reduce your taxable value. Contact the Madison County Tax Assessor's office promptly after closing to submit your Homestead Exemption application and obtain your Notice of Valuation.