Morven, North Carolina Property Taxes
The median property tax rate in Morven, NC is 0.87%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Morven at $50,950, the typical annual property tax bill reaches $448, well below the national median of $2,690. Property taxes in Morven are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Morven'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 Morven or another part of Anson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morven, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$443
$411
Ownwell’s Morven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morven 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 Morven, North Carolina
Property taxes in Morven, 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 Morven is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Morven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morven 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 Morven's effective property tax rate to other areas in Anson County and the national median. For comparison, the zip code 28119 has both the highest and lowest median property tax rate of 0.87%. Understanding how these areas compare with Morven provides valuable insights into the varying tax landscape across Anson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morven Tax Rate
0.87%
Average Anson County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morven, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28119 | 0.52% | 0.87% | 0.87% | 1.19% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Morven, North Carolina
In Morven, 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 Anson 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 Morven, 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 Morven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $448 in zip code 28119, while the lowest is also $448 in the same zip code.
Average Morven Assessed Value
$50,950
Average Anson County Assessed Value
$69,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morven, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28119 | $8,210 | $18,500 | $50,950 | $88,250 | $154,490 |
Source: Ownwell
Property Tax Bills Across Morven, North Carolina
In Morven, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor's office and reflects the market value of the property. For homeowners in Morven, the median home price stands at $50,950. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Morven, the tax bill varies significantly, with the 25th percentile paying around $172, while those in the 75th percentile face bills of approximately $781. At the higher end, the 90th percentile sees tax bills reaching $1,213. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Despite the variability, the median tax bill in Morven, NC, aligns closely with the local zip code's highest and lowest median tax bills, both recorded at $448, offering a balanced perspective for residents.
Average Morven Tax Bill
$448
Average Anson County Tax Bill
$626
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Morven, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28119 | $89 | $172 | $448 | $781 | $1,213 |
Source: Ownwell