Davidson, North Carolina Property Taxes
The median property tax rate in Davidson, NC is 0.61%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Davidson at $561,359, the typical annual property tax bill reaches $3,354, surpassing the national median of $2,690. Property taxes in Davidson are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Davidson'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 Davidson 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
Davidson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$3,424
Ownwell’s Davidson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davidson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davidson 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 Davidson, North Carolina
Property taxes in Davidson, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davidson is 0.61%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Davidson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davidson 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 Davidson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28036 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Davidson provides valuable insights into the varying tax landscape across Mecklenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davidson Tax Rate
0.61%
Average Mecklenburg County Tax Rate
0.61%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davidson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | 0.41% | 0.55% | 0.61% | 0.66% | 0.74% |
| 28078 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Davidson, North Carolina
In Davidson, 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 Mecklenburg 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 Davidson, 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 Davidson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Davidson are both $3,361 in zip code 28036, reflecting the uniformity in property tax assessments within the area.
Property Tax Assessment Values Across Davidson, North Carolina
Source: Ownwell
$18,200
$650,975
$1,283,750
Average Davidson Assessed Value
$561,359
Average Mecklenburg County Assessed Value
$364,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davidson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | $271,576 | $390,420 | $562,250 | $819,100 | $1,135,950 |
| 28078 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Davidson, North Carolina
In Davidson, property tax bills are calculated based on the assessed value of a home, which is determined by Mecklenburg County officials. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. For homeowners in Davidson, the median home price is $561,359, resulting in varying tax bills. The 25th percentile tax bill is around $2,118, while the 75th percentile reaches approximately $5,108. At the 90th percentile, homeowners can expect to pay about $6,996. The highest and lowest median tax bills in Davidson are both $3,361, specifically in the zip code 28036. Compared to the national median property tax rate of 0.99%, Davidson's tax bills reflect the area's property values and local tax policies. For homeowners, understanding these factors is crucial for financial planning and managing homeownership costs effectively.
Average Davidson Tax Bill
$3,354
Average Mecklenburg County Tax Bill
$2,199
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Davidson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | $978 | $2,131 | $3,361 | $5,126 | $6,997 |
| 28078 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell