Marion, North Carolina Property Taxes
The median property tax rate in Marion, NC is 0.46%, 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 Marion, the typical annual property tax bill reaches $488, which is well below the national median of $2,690. Property taxes in Marion are calculated based on the tax assessed value, which often 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, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$342
Ownwell’s Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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 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 Marion, 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 0.46%, significantly 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 ZIP code 28752 has both the highest and lowest median property tax rate of 0.46%. Understanding how these cities compare with Marion provides valuable insights into the varying tax landscape across Rutherford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marion Tax Rate
0.46%
Average Rutherford County Tax Rate
0.45%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marion, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | 0.39% | 0.41% | 0.46% | 0.85% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Marion, 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 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 Marion, 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. Being aware of these valuation processes in Marion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in Marion's 28752 zip code, the highest median tax bill is $488, which is significantly lower than the national median property tax rate of 0.99%. This insight can be particularly useful for homeowners looking to manage their property tax expenses effectively.
Average Marion Assessed Value
$74,300
Average Rutherford County Assessed Value
$123,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marion, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | $46,460 | $56,900 | $74,300 | $111,800 | $134,300 |
Source: Ownwell
Property Tax Bills Across Marion, North Carolina
In Marion, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The tax rate is then applied to this assessed value to generate the annual property tax bill. For instance, with a median home price of $74,300, homeowners can expect a tax bill that varies significantly depending on their property's specific assessed value and the applicable tax rate. Factors such as property size, location, and any improvements made to the property can influence the assessed value and thus the tax bill. In Marion, the 25th percentile tax bill is around $415, while the 75th percentile reaches up to $520. The highest median tax bill in the area is $488, found in the 28752 zip code. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners and the community at large.
Average Marion Tax Bill
$488
Average Rutherford County Tax Bill
$516
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Marion, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28752 | $371 | $415 | $488 | $520 | $539 |
Source: Ownwell