Weddington, North Carolina Property Taxes
The median property tax rate in Weddington, NC is 0.63%, 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 Weddington at $608,500, the typical annual property tax bill reaches $3,852, surpassing the national median of $2,690. Property taxes in Weddington are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Weddington'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 Weddington 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
Weddington, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$3,834
Ownwell’s Weddington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weddington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weddington 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 Weddington, North Carolina
Property taxes in Weddington, 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 Weddington is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Weddington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weddington 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 Weddington's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28104 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Weddington 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 Weddington Tax Rate
0.63%
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 Weddington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Weddington, North Carolina
In Weddington, 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 Assessor's Office 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 Weddington, 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 Weddington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Weddington both stand at $3,852, specifically in the 28104 zip code.
Property Tax Assessment Values Across Weddington, North Carolina
Source: Ownwell
$105,150
$356,825
$608,500
Average Weddington Assessed Value
$608,500
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 Weddington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | $608,500 | $608,500 | $608,500 | $608,500 | $608,500 |
Source: Ownwell
Property Tax Bills Across Weddington, North Carolina
In Weddington, located in Union County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Weddington is $608,500. Property tax rates are applied to this assessed value to determine the annual tax bill. The median property tax rate in Union County is 0.63%, which is lower than the national median property tax rate of 0.99%. For homeowners in Weddington, the tax bill typically falls around $3,852, regardless of the home's value percentile, reflecting a consistent tax rate across different property values. This uniformity simplifies financial planning for residents. Factors considered in the assessment include the property's market value, location, and any applicable exemptions. Understanding how these elements influence the tax bill helps homeowners anticipate their annual expenses and budget accordingly. Lower property tax rates in Weddington compared to the national average can make homeownership more affordable, potentially attracting more residents to the area.
Average Weddington Tax Bill
$3,852
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 Weddington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | $3,852 | $3,852 | $3,852 | $3,852 | $3,852 |
Source: Ownwell