Mount Holly, North Carolina Property Taxes
The median property tax rate in Mount Holly, NC is 1.56%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Mount Holly at $171,220, the typical annual property tax bill reaches $2,849, exceeding the national median of $2,690. Property taxes in Mount Holly 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 Mount Holly'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 Mount Holly 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
Mount Holly, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,671
$2,479
Ownwell’s MOUNT HOLLY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT HOLLY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT HOLLY 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 Mount Holly, North Carolina
Property taxes in Mount Holly, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Holly is 1.56%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Mount Holly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Holly 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 Mount Holly's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28120 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Mount Holly provides valuable insights into the varying tax landscape across Gaston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Holly Tax Rate
1.56%
Average Gaston County Tax Rate
1.65%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Holly, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28120 | 1.01% | 1.18% | 1.56% | 1.78% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Mount Holly, North Carolina
In Mount Holly, 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 Gaston 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 Mount Holly, 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 Mount Holly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mount Holly is $2,849 in the 28120 zip code, while the lowest median tax bill is also $2,849 in the same zip code.
Property Tax Assessment Values Across Mount Holly, North Carolina
Source: Ownwell
$48,800
$154,335
$259,870
Average Mount Holly Assessed Value
$171,220
Average Gaston County Assessed Value
$132,190
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Holly, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28120 | $61,925 | $106,225 | $171,220 | $241,365 | $326,005 |
Source: Ownwell
Property Tax Bills Across Mount Holly, North Carolina
In Mount Holly, located in Gaston County, NC, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Mount Holly can expect a range of property tax bills. For example, the 25th percentile tax bill is around $1,664, while those in the 75th percentile pay approximately $3,961. The 90th percentile sees tax bills as high as $5,084. These figures illustrate how property taxes can vary significantly based on property values. The highest median tax bill in the area is $2,849, found in the zip code 28120, which is notably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Mount Holly Tax Bill
$2,849
Average Gaston County Tax Bill
$2,130
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Holly, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28120 | $993 | $1,664 | $2,849 | $3,961 | $5,084 |
Source: Ownwell