28774 Property Tax Rate

Property owners in ZIP code 28774 (Sapphire, North Carolina) pay a median of $3,022/year in property taxes on homes valued at $723,200. This translates to an effective tax rate of 0.42%, which is 42% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28774 is approximately $252, which factors into escrow payments on mortgages. This ZIP code is located within Transylvania County. This is $1,431 more than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 28774 has lower property taxes. ZIP codes with similar effective rates include 28557 (0.42%) and 28763 (0.42%).

In Sapphire, property taxes represent approximately 2.5% of the median household income of $119,183, providing context for the relative tax burden on homeowners in this area.

North Carolina conducts market-value assessments annually without a statewide cap, and your home will be reassessed at purchase price upon closing. Transylvania County provides a Homestead Property Tax Exemption ($25,000 reduction for primary residences) and a Senior Exemption program — apply with the Transylvania County Tax Assessor's office within the first year of ownership to claim these deductions. Request your property record card from the assessor to document the purchase price and ensure all eligible exemptions are correctly recorded.