Mooresville, North Carolina Property Taxes
The median property tax rate in Mooresville, NC is 0.40%, 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 Mooresville at $411,450, the typical annual property tax bill amounts to $1,396, well below the national median of $2,690. Property taxes in Mooresville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mooresville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mooresville 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
Mooresville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,646
$1,527
Ownwell’s Mooresville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mooresville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooresville to provide an estimate of 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 Mooresville, North Carolina
Property taxes in Mooresville, 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 Mooresville 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 Mooresville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooresville 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 Mooresville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28117 zip code has the highest median property tax rate of 0.40%, while the 28115 zip code has the lowest median tax rate of 0.40%. Understanding how these areas compare with Mooresville 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 Mooresville 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 Mooresville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28115 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 28117 | 0.15% | 0.40% | 0.40% | 0.40% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Mooresville, North Carolina
In Mooresville, 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 Mooresville, 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 Mooresville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1,616 in the 28117 zip code, while the lowest is $1,067 in the 28115 zip code.
Property Tax Assessment Values Across Mooresville, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Mooresville Assessed Value
$411,450
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 Mooresville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28115 | $181,830 | $213,675 | $266,750 | $319,825 | $351,670 |
| 28117 | $225,750 | $295,800 | $466,450 | $487,175 | $627,440 |
Source: Ownwell
Property Tax Bills Across Mooresville, North Carolina
In Mooresville, 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's tax assessor, who evaluates the property’s market value. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Mooresville can expect varying tax bills depending on their property's assessed value and the specific area within the city. For example, the median home price in Mooresville is $411,450. Property tax bills can range significantly, with the 25th percentile paying around $900, while the 75th percentile sees bills around $2,012. The highest median tax bill in Mooresville is $1,616 in the 28117 zip code, whereas the lowest is $1,067 in the 28115 zip code. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and public safety. Homeowners need to budget for these taxes as part of their annual expenses, which can vary widely based on property location and value.
Average Mooresville Tax Bill
$1,396
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooresville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28115 | $727 | $855 | $1,067 | $1,279 | $1,407 |
| 28117 | $774 | $938 | $1,616 | $2,036 | $2,196 |
Source: Ownwell