Marion, North Carolina Property Taxes
The median property tax rate in Marion, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Marion at $228,450, the typical annual property tax bill amounts to $914, well below the national median of $2,690. Property taxes in Marion are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marion's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Marion or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marion, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$914
Ownwell’s Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Marion, North Carolina
Property taxes in Marion, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marion is 0.40%, which is significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Marion's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28752 has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Marion provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Marion, North Carolina
In Marion, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Avery County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Marion, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Marion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Marion is $228,450, with the zip code 28752 holding both the highest and lowest median tax bill at $914.
Property Tax Assessment Values Across Marion, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Marion Assessed Value
$228,450
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | $53,850 | $119,325 | $228,450 | $337,575 | $403,050 |
Source: Ownwell
Property Tax Bills Across Marion, North Carolina
In Marion, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $228,450, property owners in Marion can expect varying tax bills depending on their home's assessed value and the local tax rate. Homeowners in the 25th percentile typically see tax bills around $477, while those in the 75th percentile might pay approximately $1,350. At the 90th percentile, tax bills can reach up to $1,612. Compared to the national median property tax rate of 0.99%, Marion’s rates reflect a range that can significantly impact homeowners' budgets. The highest and lowest median tax bills in Marion are both recorded at $914 within the 28752 zip code, highlighting a level of consistency in tax assessments. These factors collectively influence the financial responsibilities of homeowners, making it crucial to understand how property tax bills are determined.
Average Marion Tax Bill
$914
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | $215 | $477 | $914 | $1,350 | $1,612 |
Source: Ownwell