Marshville, North Carolina Property Taxes
The median property tax rate in Marshville, NC, is 0.64%, 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 Marshville at $186,300, the typical annual property tax bill is $1,271, well below the national median of $2,690. Property taxes in Marshville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Marshville'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 Marshville 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
Marshville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,192
Ownwell’s Marshville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshville 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 Marshville, North Carolina
Property taxes in Marshville, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshville is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Marshville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshville 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 Marshville's effective property tax rate to other areas in Union County and the national median. For comparison, the 28103 zip code has the highest median property tax rate of 0.64%, while the same zip code also represents the lowest median tax rate of 0.64%. Understanding how these areas compare with Marshville provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshville Tax Rate
0.64%
Average Union County Tax Rate
0.67%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28103 | 0.36% | 0.63% | 0.64% | 0.66% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Marshville, North Carolina
In Marshville, 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 Union 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 Marshville, 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. The median home price in Marshville is $186,300, with tax bills ranging from $640 at the 25th percentile to $2,588 at the 90th percentile. Interestingly, the zip code 28103 has both the highest and lowest median tax bill at $1,271. Being aware of these valuation processes in Marshville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Marshville, North Carolina
Source: Ownwell
$105,150
$356,825
$608,500
Average Marshville Assessed Value
$186,300
Average Union County Assessed Value
$277,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28103 | $58,240 | $99,100 | $186,300 | $308,100 | $446,820 |
Source: Ownwell
Property Tax Bills Across Marshville, North Carolina
In Marshville, located in Union County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions play a significant role in the assessed value. For homeowners in Marshville, the median home price stands at $186,300. The property tax bills can vary widely, with the 25th percentile tax bill at $640, while the 75th percentile reaches $1,879, and the 90th percentile climbs to $2,588. This variation highlights the impact of differing property values and assessment practices within the community. Compared to the national median property tax rate of 0.99%, Marshville's tax bills reflect the local economic conditions and real estate market. Homeowners need to understand these factors as they directly influence their annual financial obligations and overall housing costs.
Average Marshville Tax Bill
$1,271
Average Union County Tax Bill
$2,194
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28103 | $317 | $640 | $1,271 | $1,879 | $2,588 |
Source: Ownwell