Union Grove, North Carolina Property Taxes
The median property tax rate in Union Grove, NC is 0.86%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $233,146 in Union Grove, the typical annual property tax bill is approximately $1,632, which is significantly lower than the national median of $2,690. Property taxes in Union Grove are calculated based on the assessed value, which often falls below the market value thanks to exemptions such as those for primary residences and agricultural properties. By understanding Union Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Union Grove or investing in the area, being well-versed in the local property tax dynamics is essential for financial planning and maximizing property value.
Last Updated June 14, 2024
Union Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,005
Ownwell’s Union Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union Grove 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 Union Grove, North Carolina
Property taxes in Union Grove, 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 Union Grove is 0.86%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Union Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union Grove 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 Union Grove's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28689 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these areas compare with Union Grove provides valuable insights into the varying tax landscape across Alexander County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union Grove Tax Rate
0.86%
Average Alexander County Tax Rate
0.84%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28689 | 0.45% | 0.72% | 0.86% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Union Grove, North Carolina
In Union Grove, 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 Alexander 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 Union Grove, 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. Union Grove's median home price is $233,146, with tax bills ranging from $1,280 at the 25th percentile to $3,035 at the 90th percentile. The zip code 28689 has both the highest and lowest median tax bill, which is $1,632. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Union Grove, North Carolina
Source: Ownwell
$155,479
$194,313
$233,146
Average Union Grove Assessed Value
$233,146
Average Alexander County Assessed Value
$195,568
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28689 | $118,875 | $148,003 | $233,146 | $324,608 | $432,116 |
Source: Ownwell
Property Tax Bills Across Union Grove, North Carolina
In Union Grove, located in Alexander County, NC, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The tax rate in this area is applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $233,146, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,280, while at the 75th percentile, it can rise to approximately $2,302. For those in the 90th percentile, the tax bill can reach as high as $3,035. These variations depend on factors such as property size, location, and improvements. The highest and lowest median tax bills in the area both stand at $1,632, indicating a relatively stable property tax environment compared to the national median property tax rate of 0.99%. Homeowners in Union Grove should be aware of these factors as they directly impact their annual financial obligations and overall cost of owning a home.
Average Union Grove Tax Bill
$1,632
Average Alexander County Tax Bill
$1,652
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Union Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28689 | $1,020 | $1,280 | $1,632 | $2,302 | $3,035 |
Source: Ownwell