Matthews, North Carolina Property Taxes
The median property tax rate in Matthews, NC is 0.40%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Matthews at $311,350, the typical annual property tax bill reaches $1,685, falling below the national median of $2,690. Property taxes in Matthews 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 Matthews' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Matthews 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
Matthews, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,245
Ownwell’s Matthews Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with a quick and easy way to estimate their annual property taxes in Matthews using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Matthews to give you an accurate property tax estimate. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by Avery County for tax purposes, includes any applicable exemptions, ensuring you get a precise estimate.
Property Tax Rates Across Matthews, North Carolina
Property taxes in Matthews, 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 Matthews is 0.40%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Matthews set these rates annually, and they can vary significantly across different neighborhoods. Each year, Matthews 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 Matthews' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28105 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Matthews provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Matthews Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Matthews, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28105 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Matthews, North Carolina
In Matthews, 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 Avery 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 Matthews, 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. For instance, the highest median tax bill in Matthews is $1,685 in zip code 28104, while the lowest is $1,453 in zip code 28105. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Matthews, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Matthews Assessed Value
$311,350
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Matthews, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | $245,440 | $311,350 | $421,200 | $638,100 | $768,240 |
| 28105 | $28,380 | $55,950 | $101,900 | $363,250 | $520,060 |
Source: Ownwell
Property Tax Bills Across Matthews, North Carolina
In Matthews, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Matthews can expect property tax bills that vary significantly, influenced by factors such as the property's location, size, and condition. The median home price in Matthews is $311,350, and the property tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in this area typically see tax bills ranging from $806 at the 25th percentile to $2,498 at the 75th percentile. For those at the 90th percentile, tax bills can reach up to $3,051. These tax bills directly impact homeowners by contributing to the overall cost of owning a home. Comparatively, the highest median tax bill in Matthews is $1,685 in the 28104 zip code, while the lowest is $1,453 in the 28105 zip code. Understanding these factors can help homeowners better anticipate their annual expenses.
Average Matthews Tax Bill
$1,685
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Matthews, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | $982 | $1,245 | $1,685 | $2,552 | $3,073 |
| 28105 | $617 | $930 | $1,453 | $1,976 | $2,289 |
Source: Ownwell