Marion, Mcdowell County, North Carolina Property Taxes
The median property tax rate in Marion, NC is 0.69%, 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 Marion at $104,560, the typical annual property tax bill reaches $676, significantly below the national median of $2,690. Property taxes in Marion 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 Marion'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 Marion 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
Marion, Mcdowell County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$721
$669
Ownwell’s Marion Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marion to estimate your property tax bill. This insightful tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. 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 Marion, Mcdowell County, North Carolina
Property taxes in Marion, 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 Marion is 0.69%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marion 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 Marion's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28752 zip code has the highest median property tax rate of 0.69%, while the same 28752 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Marion provides valuable insights into the varying tax landscape across McDowell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Tax Rate
0.69%
Average Mcdowell County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion, Mcdowell County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | 0.60% | 0.60% | 0.69% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Marion, Mcdowell County, North Carolina
In Marion, 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 McDowell 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. Assessment notices in Marion 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 Marion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28752 in Marion has both the highest and lowest median tax bill at $676.
Property Tax Assessment Values Across Marion, Mcdowell County, North Carolina
Source: Ownwell
$104,560
$371,168
$637,775
Average Marion Assessed Value
$104,560
Average Mcdowell County Assessed Value
$111,420
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion, Mcdowell County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | $28,620 | $62,380 | $104,560 | $185,050 | $315,528 |
Source: Ownwell
Property Tax Bills Across Marion, Mcdowell County, North Carolina
In Marion, located in McDowell County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Marion is $104,560, which serves as a baseline for determining the tax bill. Homeowners in Marion can expect to pay property taxes that vary significantly depending on the assessed value of their property and the specific tax rate applied by the county. The tax bills in Marion range widely, with the 25th percentile at $378 and the 75th percentile at $1,222. The 90th percentile tax bill can go up to $2,123, indicating that higher-value properties face considerably larger tax obligations. The highest and lowest median tax bill in the area both stand at $676, which is significantly lower than the national median property tax rate of 0.99%. These property taxes are essential for funding local services such as schools, infrastructure, and emergency services, impacting the overall quality of life for homeowners in Marion.
Average Marion Tax Bill
$676
Average Mcdowell County Tax Bill
$723
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion, Mcdowell County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | $193 | $378 | $676 | $1,222 | $2,123 |
Source: Ownwell