Charlotte, North Carolina Property Taxes
The median property tax rate in Charlotte, NC is 1.18%, notably higher 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 $270,230, the typical annual property tax bill reaches $3,093, surpassing the national median of $2,690. Property taxes in Charlotte are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Charlotte'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 Charlotte 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
Charlotte, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$3,189
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlotte is 1.18%, higher than 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 Cabarrus County and the national median. For comparison, the 28269 zip code has the highest median property tax rate of 1.22%, while the 28227 zip code has the lowest median tax rate of 0.84%. Understanding how these areas compare with Charlotte provides valuable insights into the varying tax landscape across Cabarrus County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlotte Tax Rate
1.18%
Average Cabarrus County Tax Rate
1.22%
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 |
|---|---|---|---|---|---|
| 28213 | 1.17% | 1.17% | 1.18% | 1.18% | 1.18% |
| 28215 | 0.85% | 0.89% | 0.89% | 1.17% | 1.18% |
| 28227 | 0.73% | 0.83% | 0.84% | 0.84% | 0.85% |
| 28262 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
| 28269 | 1.20% | 1.22% | 1.22% | 1.22% | 1.22% |
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 Cabarrus 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. For example, the highest median tax bill in Charlotte is $3,765 in the 28269 zip code, while the lowest is $1,926 in the 28227 zip code. 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.
Property Tax Assessment Values Across Charlotte, North Carolina
Source: Ownwell
$48,000
$176,535
$305,070
Average Charlotte Assessed Value
$270,230
Average Cabarrus County Assessed Value
$192,000
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 |
|---|---|---|---|---|---|
| 28213 | $143,674 | $161,220 | $241,970 | $265,830 | $295,768 |
| 28215 | $114,430 | $147,870 | $235,590 | $365,410 | $427,570 |
| 28227 | $50,529 | $156,058 | $233,260 | $355,580 | $471,353 |
| 28262 | $181,653 | $205,058 | $252,160 | $459,780 | $772,116 |
| 28269 | $209,748 | $240,220 | $305,070 | $358,875 | $406,894 |
Source: Ownwell
Property Tax Bills Across Charlotte, North Carolina
In Charlotte, Cabarrus County, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. Homeowners in this area see their properties assessed based on their market value, which is then multiplied by the tax rate set by the local government. The median home price in Charlotte is $270,230, significantly influencing the tax bill amount. For instance, the 25th percentile tax bill stands at $1,904, while the 75th percentile reaches $4,095, and the 90th percentile goes up to $4,846. The highest median tax bill in the region is $3,765, found in the 28269 zip code, whereas the lowest is $1,926 in the 28227 zip code. These variations highlight how different factors, such as location and property value, can impact the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Charlotte's rates can vary widely, affecting how much homeowners ultimately pay.
Average Charlotte Tax Bill
$3,093
Average Cabarrus County Tax Bill
$2,115
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 |
|---|---|---|---|---|---|
| 28213 | $1,765 | $1,928 | $2,832 | $3,117 | $3,464 |
| 28215 | $1,002 | $1,313 | $2,098 | $3,716 | $4,907 |
| 28227 | $370 | $619 | $1,926 | $2,987 | $4,091 |
| 28262 | $1,570 | $1,728 | $1,992 | $2,255 | $2,414 |
| 28269 | $2,657 | $2,954 | $3,765 | $4,390 | $4,958 |
Source: Ownwell