Waxhaw, North Carolina Property Taxes
The median property tax rate in Waxhaw, NC is 0.40%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With the median home value in Waxhaw at $208,000, the typical annual property tax bill amounts to $1,149, well below the national median of $2,690. Property taxes in Waxhaw 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 Waxhaw'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 Waxhaw 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
Waxhaw, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$832
$772
Ownwell’s Waxhaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waxhaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waxhaw 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 Waxhaw, North Carolina
Property taxes in Waxhaw, 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 Waxhaw is 0.79%, lower than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Waxhaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waxhaw 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 Waxhaw's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28277 zip code has the highest median property tax rate of 1.05%, while the 28173 zip code has the lowest median tax rate of 0.64%. Understanding how these cities compare with Waxhaw 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 Waxhaw 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 Waxhaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28173 | 0.25% | 0.31% | 0.40% | 0.41% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Waxhaw, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waxhaw, North Carolina. 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 Waxhaw, 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 Waxhaw is $1,149 in the 28173 zip code, while the lowest median tax bill is also $1,149 in the same zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Waxhaw, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Waxhaw Assessed Value
$208,000
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 Waxhaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28173 | $90,000 | $90,000 | $208,000 | $543,200 | $1,863,560 |
Source: Ownwell
Property Tax Bills Across Waxhaw, North Carolina
In Waxhaw, 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 and reflects the market value of the property. Homeowners in Waxhaw face a median home price of $208,000, which serves as a baseline for tax calculations. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Waxhaw can expect tax bills to vary widely. For instance, the tax bill at the 25th percentile is around $990, while those at the 75th and 90th percentiles can reach $6,355 and $9,479, respectively. The highest and lowest median tax bills in the area are both $1,149, indicating some consistency within certain zip codes. These property taxes significantly impact homeowners, as they contribute to local services such as schools, emergency services, and infrastructure. With a local median tax rate below the national median of 0.99%, Waxhaw presents a relatively manageable property tax environment for its residents.
Average Waxhaw Tax Bill
$1,149
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Waxhaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28173 | $895 | $990 | $1,149 | $6,355 | $9,479 |
Source: Ownwell