Matthews, North Carolina Property Taxes
The median property tax rate in Matthews, NC is 0.61%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Matthews at $406,300, the typical annual property tax bill amounts to $2,474, falling below the national median of $2,690. Property taxes in Matthews are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Matthews' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Matthews 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
Matthews, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$2,478
$2,300
Ownwell’s Matthews Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Matthews with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Matthews 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 Matthews, North Carolina
Property taxes in Matthews, North Carolina, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Matthews is 0.61%, lower than the U.S. national median of 0.99%. Local government entities within Matthews set these rates annually, and they can vary significantly across different neighborhoods. Each year, Matthews 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 Matthews' effective property tax rate to other areas in Mecklenburg County and the national median. For comparison, the 28105 zip code has the highest median property tax rate of 0.61%, while the 28104 zip code has the lowest median tax rate of 0.60%. Understanding how these areas compare with Matthews provides valuable insights into the varying tax landscape across Mecklenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Matthews Tax Rate
0.61%
Average Mecklenburg County Tax Rate
0.61%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Matthews, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | 0.38% | 0.43% | 0.60% | 0.66% | 0.69% |
| 28105 | 0.52% | 0.57% | 0.61% | 0.65% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Matthews, North Carolina
In Matthews, 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 Mecklenburg 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 Matthews, 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. The zip code with the highest median tax bill is 28105 at $2,479, while the lowest is 28104 at $2,436. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Matthews, North Carolina
Source: Ownwell
$18,200
$650,975
$1,283,750
Average Matthews Assessed Value
$406,300
Average Mecklenburg County Assessed Value
$364,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Matthews, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | $296,450 | $357,700 | $468,000 | $561,525 | $682,450 |
| 28105 | $252,300 | $327,700 | $406,000 | $502,400 | $663,050 |
Source: Ownwell
Property Tax Bills Across Matthews, North Carolina
In Matthews, located in Mecklenburg County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors like property size, location, and market conditions can influence the assessed value. Homeowners in Matthews can expect a median property tax bill of around $2,479 in the 28105 zip code, slightly higher than the $2,436 median tax bill in the 28104 zip code. Compared to the national median property tax rate of 0.99%, Matthews' rates can result in varying tax bills. For instance, the 25th percentile tax bill is approximately $1,906, while the 75th percentile reaches around $3,108. At the 90th percentile, homeowners might face tax bills as high as $4,282. These property taxes significantly impact homeowners by influencing their overall housing costs and potentially affecting their financial planning and budgeting.
Average Matthews Tax Bill
$2,474
Average Mecklenburg County Tax Bill
$2,199
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Matthews, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28104 | $1,135 | $2,126 | $2,436 | $3,216 | $3,847 |
| 28105 | $1,405 | $1,901 | $2,479 | $3,106 | $4,294 |
Source: Ownwell