Midland, North Carolina Property Taxes
The median property tax rate in Midland, NC is 0.66%, which is notably 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 $265,600, the typical annual property tax bill comes to $1,528, considerably below the national median of $2,690. Property taxes in Midland are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the 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
0.66%
Estimate Property Tax Bill
$1,753
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, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Midland is 0.66%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Midland set these rates annually, and they can vary 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 28107 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Midland 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 Midland Tax Rate
0.66%
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 Midland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28107 | 0.32% | 0.66% | 0.66% | 0.66% | 0.66% |
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 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 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. The median home price here is $265,600. The median tax bill in zip code 28107 is $1,528, which is both the highest and lowest in the area. 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.
Property Tax Assessment Values Across Midland, North Carolina
Source: Ownwell
$105,150
$356,825
$608,500
Average Midland Assessed Value
$265,600
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 Midland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28107 | $62,900 | $70,350 | $265,600 | $483,850 | $685,000 |
Source: Ownwell
Property Tax Bills Across Midland, North Carolina
In Midland, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Union County tax assessor. The assessed value is then multiplied by the local property tax rate. The median home price in Midland is $265,600, and the property tax rate in Union County influences the final tax bill. Homeowners in Midland can expect a wide range of tax bills, with the 25th percentile tax bill at $449 and the 90th percentile reaching up to $4,027. The highest and lowest median tax bills in the area are both $1,528, corresponding to the zip code 28107. These property taxes can significantly impact homeowners, as they represent an ongoing annual expense. While the median property tax rate nationally is 0.99%, the specific rate in Midland can vary, affecting affordability and financial planning for residents. Understanding how these factors interplay is crucial for homeowners to manage their budgets effectively.
Average Midland Tax Bill
$1,528
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 Midland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28107 | $392 | $449 | $1,528 | $2,522 | $4,027 |
Source: Ownwell