Mooresboro, North Carolina Property Taxes
The median property tax rate in Mooresboro, NC is 0.85%, 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 $84,965 in Mooresboro, the typical annual property tax bill amounts to $692, which is significantly lower than the national median of $2,690. Property taxes in Mooresboro are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Mooresboro'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 Mooresboro or another part of Cleveland County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooresboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$722
Ownwell’s Mooresboro Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Mooresboro. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Mooresboro to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of your potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Cleveland County for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Mooresboro, North Carolina
Property taxes in Mooresboro, 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 Mooresboro is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Mooresboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooresboro 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 Mooresboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28114 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Mooresboro provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooresboro Tax Rate
0.85%
Average Cleveland County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooresboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28114 | 0.67% | 0.80% | 0.85% | 0.90% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Mooresboro, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mooresboro, 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 Cleveland 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 Mooresboro, 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 Mooresboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mooresboro is $84,965, with tax bills ranging from $430 at the 25th percentile to $1,738 at the 90th percentile. The highest and lowest median tax bills are both $692 in the 28114 zip code.
Property Tax Assessment Values Across Mooresboro, North Carolina
Source: Ownwell
$55,703
$127,552
$199,401
Average Mooresboro Assessed Value
$84,965
Average Cleveland County Assessed Value
$100,046
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooresboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28114 | $25,221 | $52,194 | $84,965 | $145,836 | $230,231 |
Source: Ownwell
Property Tax Bills Across Mooresboro, North Carolina
In Mooresboro, Cleveland County, 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 and reflects the market value of the property. Homeowners in Mooresboro typically face a median property tax rate close to the national median of 0.99%. For instance, with a median home price of $84,965, property tax bills can vary significantly. At the 25th percentile, homeowners might see tax bills around $430, while those at the 75th percentile could pay approximately $1,148. At the higher end, the 90th percentile tax bills can reach up to $1,738. These figures indicate that property taxes can vary considerably based on the assessed value of the property. Understanding these factors is crucial for homeowners as they can significantly impact annual expenses. The highest and lowest median tax bill in Mooresboro is recorded at $692 within the zip code 28114.
Average Mooresboro Tax Bill
$692
Average Cleveland County Tax Bill
$887
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooresboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28114 | $218 | $430 | $692 | $1,148 | $1,738 |
Source: Ownwell