Mount Mourne, North Carolina Property Taxes
The median property tax rate in Mount Mourne, NC is 0.40%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Mount Mourne, the typical annual property tax bill reaches $509, significantly below the national median of $2,690. Property taxes in Mount Mourne 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 Mourne'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 Mourne or another part of Iredell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Mourne, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$514
$477
Ownwell’s Mount Mourne Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mount Mourne with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Mount Mourne to provide an accurate estimate of your property tax bill. This valuable tool offers clarity on potential tax liabilities, aiding in financial planning and decision-making. For those curious about neighborhood-specific trends, more localized information is available by scrolling down. Your property’s assessed value, determined by Iredell County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Mount Mourne, North Carolina
Property taxes in Mount Mourne, 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 Mount Mourne 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 Mount Mourne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Mourne 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 Mourne's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate within the region is significantly higher, while the lowest median tax rate is considerably lower. Understanding how these areas compare with Mount Mourne 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 Mount Mourne Tax Rate
0.40%
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 Mount Mourne, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28123 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Mount Mourne, North Carolina
In Mount Mourne, 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 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 Mourne, 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. The median home price here is $128,540. The median tax bill is notably consistent across the board, with the highest and lowest median tax bills both being $509 in the 28123 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 Mount Mourne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mount Mourne, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Mount Mourne Assessed Value
$128,540
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 Mount Mourne, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28123 | $128,540 | $128,540 | $128,540 | $128,540 | $128,540 |
Source: Ownwell
Property Tax Bills Across Mount Mourne, North Carolina
In Mount Mourne, located in Iredell County, NC, property tax bills are determined by assessing the value of a property and applying the local tax rate to this assessed value. The median home price in Mount Mourne is approximately $128,540. Property tax bills are influenced by several factors, including the assessed value of the home and any applicable exemptions or deductions. For instance, the typical tax bill in this area is around $509, which falls within the 25th to 90th percentile range, indicating a consistent tax rate across different property values. Compared to the national median property tax rate of 0.99%, Mount Mourne offers a relatively stable and predictable tax environment for homeowners. This predictability helps homeowners budget more effectively and ensures that they are not caught off guard by significant fluctuations in their annual property tax obligations. Understanding these factors can help homeowners in Mount Mourne better anticipate their tax liabilities and manage their finances accordingly.
Average Mount Mourne Tax Bill
$509
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 Mount Mourne, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28123 | $509 | $509 | $509 | $509 | $509 |
Source: Ownwell