Mint Hill, North Carolina Property Taxes
The median property tax rate in Mint Hill, NC is 0.64%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $399,100 in Mint Hill, the typical annual property tax bill is approximately $2,547, slightly below the national median of $2,690. Property taxes in Mint Hill are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Mint Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve notable annual savings. Whether you're in the heart of Mint Hill or another part of the city, gaining insight into the local property tax system is beneficial for effective financial planning.
Last Updated June 14, 2024
Mint Hill, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$2,554
Ownwell’s Mint Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mint Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mint Hill 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 Mint Hill, North Carolina
Property taxes in Mint Hill, 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 Mint Hill is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Mint Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mint Hill 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 Mint Hill's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 28227 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Mint Hill 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 Mint Hill 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 Mint Hill, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28227 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Mint Hill, North Carolina
In Mint Hill, 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 Mint Hill, 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 Mint Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Mint Hill's highest and lowest median tax bills are both $2,547, found in the 28227 zip code.
Property Tax Assessment Values Across Mint Hill, North Carolina
Source: Ownwell
$105,150
$356,825
$608,500
Average Mint Hill Assessed Value
$399,100
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 Mint Hill, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28227 | $323,620 | $378,550 | $399,100 | $423,400 | $457,120 |
Source: Ownwell
Property Tax Bills Across Mint Hill, North Carolina
In Mint Hill, located in Union County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is intended to reflect the market value of the home. Factors such as the property's size, location, and condition are considered during the assessment process. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Mint Hill, the median home price is $399,100. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $2,416, while the 75th percentile tax bill reaches $2,703, and the 90th percentile tax bill is $2,918. These figures indicate that most homeowners will pay within this range, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, homeowners in Mint Hill experience a relatively similar tax burden, influencing their overall cost of living and financial planning.
Average Mint Hill Tax Bill
$2,547
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 Mint Hill, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28227 | $2,066 | $2,416 | $2,547 | $2,703 | $2,918 |
Source: Ownwell