Mitchell County, North Carolina Property Taxes
The median property tax rate in Mitchell County is 0.63%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Mitchell County at $141,700, the typical annual property tax bill amounts to $856, much less than the national median of $2,690. Property taxes in Mitchell County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mitchell County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Bakersville or another part of Mitchell County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mitchell County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$893
$828
Ownwell’s Mitchell County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mitchell County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mitchell County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mitchell County, North Carolina
Property taxes in Mitchell County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mitchell County is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Mitchell County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mitchell County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Mitchell County's effective property tax rate with other areas and the national median. For comparison, the city of Bakersville has one of the higher property tax rates in the region at 0.63%, while the city of Newland boasts one of the lowest at 0.60%. Analyzing how Mitchell County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mitchell County Tax Rate
0.63%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mitchell County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bakersville | 0.50% | 0.63% | 0.63% | 0.63% | 0.65% |
| Green Mountain | 0.38% | 0.60% | 0.63% | 0.63% | 0.63% |
| Newland | N/A | N/A | N/A | N/A | N/A |
| Penland | N/A | N/A | N/A | N/A | N/A |
| Spruce Pine | 0.56% | 0.63% | 0.63% | 0.63% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Mitchell County, North Carolina
In Mitchell County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Mitchell County Appraisal District. The assessed value, however, 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 Mitchell County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Mitchell County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For instance, Newland has the highest median tax bill at $1,071, while Green Mountain has the lowest at $777. By staying informed, you can make more strategic decisions regarding your property taxes.
Property Tax Assessment Values Across Mitchell County, North Carolina
Source: Ownwell
$132,800
$139,650
$146,500
Average Mitchell County Assessed Value
$141,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mitchell County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bakersville | $18,600 | $69,700 | $146,500 | $249,500 | $371,440 |
| Green Mountain | $24,500 | $75,500 | $132,800 | $201,000 | $313,300 |
| Newland | N/A | N/A | N/A | N/A | N/A |
| Penland | N/A | N/A | N/A | N/A | N/A |
| Spruce Pine | $11,340 | $56,900 | $139,900 | $242,850 | $362,400 |
Source: Ownwell
Property Tax Bills Across Mitchell County, North Carolina
In Mitchell County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Mitchell County can expect their property tax bills to vary widely, with the 25th percentile tax bill around $407 and the 75th percentile tax bill reaching $1,474. For those at the higher end, the 90th percentile tax bill can go up to $2,232. These figures highlight the significant impact assessed values have on homeowners, as higher market values lead to higher tax bills. Comparing this to the national median property tax rate of 0.99%, Mitchell County's property taxes can be relatively moderate, depending on the specific location within the county. For instance, the highest median tax bill is $1,071 in Newland, while the lowest is $777 in Green Mountain, showcasing the variation within the county itself.
Average Mitchell County Tax Bill
$856
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mitchell County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bakersville | $172 | $435 | $873 | $1,515 | $2,284 |
| Green Mountain | $194 | $432 | $777 | $1,196 | $1,799 |
| Newland | N/A | N/A | N/A | N/A | N/A |
| Penland | N/A | N/A | N/A | N/A | N/A |
| Spruce Pine | $146 | $388 | $859 | $1,493 | $2,266 |
Source: Ownwell