Marshall, North Carolina Property Taxes
The median property tax rate in Marshall, NC is 0.60%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $161,744 in Marshall, the typical annual property tax bill amounts to $969, well below the national median of $2,690. Property taxes in Marshall are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Marshall'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 Marshall or another part of Madison County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshall, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$970
Ownwell’s Marshall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshall 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 Marshall, North Carolina
Property taxes in Marshall, 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 Marshall is 0.60%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28753 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Marshall provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshall Tax Rate
0.60%
Average Madison County Tax Rate
0.62%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28753 | 0.50% | 0.56% | 0.60% | 0.70% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, North Carolina
In Marshall, 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 Madison 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 Marshall, 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. Marshall’s median home price stands at $161,744, with tax bills varying significantly. The 25th percentile tax bill is $643, while the 75th percentile reaches $1,469, and the 90th percentile hits $2,085. Both the highest and lowest median tax bills in the area are $969, found in the 28753 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 Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Marshall, North Carolina
Source: Ownwell
$140,735
$214,348
$287,960
Average Marshall Assessed Value
$161,744
Average Madison County Assessed Value
$177,610
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28753 | $57,337 | $94,144 | $161,744 | $261,821 | $397,556 |
Source: Ownwell
Property Tax Bills Across Marshall, North Carolina
In Marshall, located in Madison County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor's office and is a percentage of the property's market value. Homeowners in Marshall can expect their property tax bills to vary significantly. For instance, the 25th percentile of tax bills is around $643, while the 75th percentile reaches up to $1,469. At the higher end, the 90th percentile tax bill can be as much as $2,085. These variations are influenced by factors such as property size, location, and any improvements made to the property. Homeowners in Marshall face a median tax bill of $969, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable compared to other regions. However, it is essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates to better manage their financial planning.
Average Marshall Tax Bill
$969
Average Madison County Tax Bill
$1,078
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28753 | $434 | $643 | $969 | $1,469 | $2,085 |
Source: Ownwell