Midland, North Carolina Property Taxes
The median property tax rate in Midland, NC is 0.56%, 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 Midland at $444,300, the typical annual property tax bill reaches $2,461, which is below the national median of $2,690. Property taxes in Midland are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Midland'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 Midland 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
Midland, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$2,488
Ownwell’s Midland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midland 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 Midland, North Carolina
Property taxes in Midland, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midland is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Midland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midland 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 Midland's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28107 has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Midland 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 Midland Tax Rate
0.56%
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 Midland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28107 | 0.46% | 0.53% | 0.56% | 0.60% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Midland, North Carolina
In Midland, 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 Midland, 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 Midland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 28107, with a median tax bill of $2,461.
Property Tax Assessment Values Across Midland, North Carolina
Source: Ownwell
$18,200
$650,975
$1,283,750
Average Midland Assessed Value
$444,300
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 Midland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28107 | $127,030 | $341,895 | $444,300 | $578,325 | $774,450 |
Source: Ownwell
Property Tax Bills Across Midland, North Carolina
In Midland, property tax bills are calculated based on the assessed value of a home, which is determined by the Mecklenburg County tax assessor. The assessed value is a percentage of the market value of the property, and this value is then multiplied by the local tax rate. For example, with a median home price of $444,300, homeowners can expect property tax bills to vary significantly. The 25th percentile tax bill is $1,718, while the 75th percentile tax bill is $3,231, and the 90th percentile tax bill reaches $4,387. These variations are influenced by factors such as property location, size, and any applicable exemptions. Homeowners in Midland may find their tax bills higher or lower depending on these factors, but they generally fall within these ranges. Compared to the national median property tax rate of 0.99%, Midland's rates reflect local economic conditions and municipal funding needs, impacting homeowners' annual financial planning and overall cost of living.
Average Midland Tax Bill
$2,461
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 Midland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28107 | $616 | $1,718 | $2,461 | $3,231 | $4,387 |
Source: Ownwell