Mount Ulla, North Carolina Property Taxes
The median property tax rate in Mount Ulla, NC is 0.62%, 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 Mount Ulla at $228,300, the typical annual property tax bill amounts to $1,455, which is below the national median of $2,690. Property taxes in Mount Ulla are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Ulla's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mount Ulla 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
Mount Ulla, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,415
Ownwell’s Mount Ulla Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mount Ulla with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Ulla to give you an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan your finances. 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 Mount Ulla, North Carolina
Property taxes in Mount Ulla, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Ulla is 0.62%, lower than both the North Carolina state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Mount Ulla set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Ulla 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 Mount Ulla's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28125 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Mount Ulla provides valuable insights into the varying tax landscape across Iredell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Ulla Tax Rate
0.62%
Average Iredell County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Ulla, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28125 | 0.57% | 0.61% | 0.62% | 0.65% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Mount Ulla, North Carolina
In Mount Ulla, 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 Iredell 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 Mount Ulla, 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 Mount Ulla helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mount Ulla is $228,300, with the highest and lowest median tax bills both recorded at $1,455 in zip code 28125.
Property Tax Assessment Values Across Mount Ulla, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Mount Ulla Assessed Value
$228,300
Average Iredell County Assessed Value
$268,560
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Ulla, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28125 | $120,542 | $163,720 | $228,300 | $327,000 | $488,070 |
Source: Ownwell
Property Tax Bills Across Mount Ulla, North Carolina
In Mount Ulla, located in Iredell County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value reflects the market value of the property, and the tax rate is applied to this value to determine the annual tax bill. The median home price in Mount Ulla is $228,300, which offers a benchmark for understanding property tax costs in the area. Homeowners in Mount Ulla face varying tax bills depending on the assessed value of their property. For instance, the 25th percentile tax bill is $1,054, while the 75th percentile tax bill reaches $1,919. At the higher end, the 90th percentile tax bill can be as much as $2,622. This variation shows how property values directly impact the amount homeowners are required to pay in taxes. Compared to the national median property tax rate of 0.99%, Mount Ulla's property tax rates are competitive, making it an appealing location for homeowners looking to manage their annual tax expenses effectively.
Average Mount Ulla Tax Bill
$1,455
Average Iredell County Tax Bill
$2,001
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Ulla, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28125 | $669 | $1,054 | $1,455 | $1,919 | $2,622 |
Source: Ownwell