Charlotte, North Carolina Property Taxes
The median property tax rate in Charlotte, NC is 0.40%, 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 Charlotte at $276,450, the typical annual property tax bill is $1,110, well below the national median of $2,690. Property taxes in Charlotte are calculated based on the assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Charlotte'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 Charlotte or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charlotte, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,106
Ownwell’s CHARLOTTE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CHARLOTTE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CHARLOTTE 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 Charlotte, North Carolina
Property taxes in Charlotte, 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 Charlotte is 0.40%, which is below the U.S. national median of 0.99%. Local government entities within Charlotte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlotte 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 Charlotte's effective property tax rate to other areas in Avery County and the national median. For comparison, the 28205 zip code has the highest median property tax rate of 0.43%, while the 28210 zip code has the lowest median tax rate of 0.40%. Understanding how these areas compare with Charlotte provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlotte Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlotte, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28202 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28203 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28205 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
| 28207 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28208 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28209 | 0.33% | 0.35% | 0.40% | 0.40% | 0.40% |
| 28210 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28211 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28214 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28226 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28270 | 0.40% | 0.40% | 0.41% | 0.41% | 0.42% |
| 28277 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28278 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Charlotte, North Carolina
In Charlotte, 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 Avery 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 Charlotte, 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 Charlotte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $4,218 in the 28202 zip code, while the lowest is $372 in the 28214 zip code.
Property Tax Assessment Values Across Charlotte, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Charlotte Assessed Value
$276,450
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlotte, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28202 | $465,460 | $563,650 | $727,300 | $890,950 | $989,140 |
| 28203 | $92,880 | $201,900 | $383,600 | $565,300 | $674,320 |
| 28205 | $206,810 | $247,025 | $314,050 | $381,075 | $421,290 |
| 28207 | $154,450 | $300,000 | $375,000 | $485,325 | $1,182,150 |
| 28208 | $15,700 | $15,850 | $16,100 | $16,350 | $16,500 |
| 28209 | $11,460 | $12,450 | $14,100 | $156,000 | $241,140 |
| 28210 | $302,300 | $453,500 | $705,500 | $728,300 | $741,980 |
| 28211 | $79,340 | $101,250 | $371,050 | $476,125 | $615,470 |
| 28214 | $35,400 | $57,000 | $93,000 | $129,000 | $150,600 |
| 28226 | $148,130 | $272,825 | $396,050 | $775,350 | $1,360,980 |
| 28270 | $389,480 | $591,200 | $927,400 | $1,263,600 | $1,465,320 |
| 28277 | $5,100 | $5,100 | $53,500 | $241,275 | $610,650 |
| 28278 | $196,212 | $220,526 | $261,051 | $301,576 | $325,890 |
Source: Ownwell
Property Tax Bills Across Charlotte, North Carolina
In Charlotte, Avery County, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Charlotte is $276,450. Homeowners in this area can expect varying tax bills, with the 25th percentile paying around $83, and those in the 75th percentile paying approximately $1,946. At the higher end, the 90th percentile sees tax bills up to $3,369. The highest median tax bill in the area is $4,218 in zip code 28202, while the lowest is $372 in zip code 28214. These property taxes significantly impact homeowners by affecting their overall housing costs. Compared to the national median property tax rate of 0.99%, Charlotte’s tax rates can vary widely, making it crucial for homeowners to understand their specific tax obligations.
Average Charlotte Tax Bill
$1,110
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlotte, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28202 | $4,218 | $4,218 | $4,218 | $4,218 | $4,218 |
| 28203 | $372 | $808 | $1,534 | $2,261 | $2,697 |
| 28205 | $1,911 | $1,911 | $1,911 | $1,911 | $1,911 |
| 28207 | $618 | $1,200 | $1,500 | $1,941 | $4,729 |
| 28208 | $63 | $63 | $64 | $65 | $66 |
| 28209 | $46 | $50 | $56 | $487 | $745 |
| 28210 | $1,209 | $1,814 | $2,822 | $2,913 | $2,968 |
| 28211 | $317 | $405 | $1,484 | $1,905 | $2,462 |
| 28214 | $142 | $228 | $372 | $516 | $602 |
| 28226 | $593 | $1,091 | $1,584 | $3,101 | $5,444 |
| 28270 | $1,589 | $2,442 | $3,865 | $5,287 | $6,140 |
| 28277 | $20 | $20 | $44 | $1,615 | $2,536 |
| 28278 | $785 | $882 | $1,044 | $1,206 | $1,304 |
Source: Ownwell