Mooresville, North Carolina Property Taxes
The median property tax rate in Mooresville, NC is 0.85%, which is lower than the national median of 0.99% but slightly higher than the North Carolina state median of 0.82%. With a median home value of $405,260 in Mooresville, the typical annual property tax bill reaches $3,819, surpassing 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 exemptions such as primary residence and agricultural exemptions. Understanding Mooresville'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 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
0.85%
Estimate Property Tax Bill
$3,445
$3,197
Ownwell’s Mooresville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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 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 Iredell 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, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooresville is 0.85%, 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 areas in North Carolina and the national median. For comparison, the 28115 zip code has the highest median property tax rate of 1.18%, while the 28117 zip code has the lowest median tax rate of 0.61%. Understanding how these areas compare with Mooresville provides valuable insights into the varying tax landscape across Iredell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooresville Tax Rate
0.85%
Average Iredell County Tax Rate
0.64%
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 | 0.61% | 0.76% | 1.18% | 1.19% | 1.23% |
| 28117 | 0.59% | 0.60% | 0.61% | 1.02% | 1.04% |
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 Iredell County Assessor's Office 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. For instance, the median home price in Mooresville is $405,260, with the tax bill for the 25th percentile at $2,333 and the 75th percentile at $5,068. The highest median tax bill is $4,193 in the 28117 zip code, while the lowest is $3,331 in the 28115 zip code. 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.
Property Tax Assessment Values Across Mooresville, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Mooresville Assessed Value
$405,260
Average Iredell County Assessed Value
$268,560
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 | $112,815 | $204,545 | $324,225 | $426,562 | $516,932 |
| 28117 | $242,745 | $356,440 | $516,955 | $853,005 | $1,310,088 |
Source: Ownwell
Property Tax Bills Across Mooresville, North Carolina
In Mooresville, located in Iredell County, NC, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and is intended to reflect the market value of the property. The tax rate, set by local government authorities, is then applied to this assessed value to calculate the annual tax bill. For homeowners in Mooresville, the median home price is $405,260, which helps to contextualize the tax bills. The 25th percentile tax bill is $2,333, while the 75th percentile tax bill reaches $5,068. For those at the higher end, the 90th percentile tax bill is $6,483. The highest median tax bill is found in the 28117 zip code at $4,193, whereas the lowest median tax bill is in the 28115 zip code at $3,331. These property tax bills significantly impact homeowners, influencing their overall cost of living and potentially affecting decisions on property investments. Given that the national median property tax rate is 0.99%, understanding these local variations is crucial for homeowners in managing their financial planning.
Average Mooresville Tax Bill
$3,819
Average Iredell County Tax Bill
$2,001
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 | $890 | $1,794 | $3,331 | $4,674 | $5,471 |
| 28117 | $1,677 | $2,881 | $4,193 | $5,496 | $8,020 |
Source: Ownwell