Mooresboro, North Carolina Property Taxes
The median property tax rate in Mooresboro, NC is 0.43%, 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 $111,300 in Mooresboro, the typical annual property tax bill amounts to $429, which is well below the national median of $2,690. Property taxes in Mooresboro are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mooresboro'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 Mooresboro or another part of Rutherford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooresboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$479
$444
Ownwell’s Mooresboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooresboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooresboro 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 Mooresboro, North Carolina
Property taxes in Mooresboro, North Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooresboro is 0.43%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Mooresboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooresboro 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 Mooresboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28114 has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Mooresboro 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 Mooresboro Tax Rate
0.43%
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 Mooresboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28114 | 0.20% | 0.34% | 0.43% | 0.53% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Mooresboro, North Carolina
In Mooresboro, 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 Rutherford 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 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 Mooresboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mooresboro, the zip code with the highest median tax bill is 28114, with a tax bill of $429. Conversely, the lowest median tax bill is also in zip code 28114, at $429. The median home price in the area is $111,300, with property tax bills ranging from $274 at the 25th percentile to $822 at the 90th percentile.
Property Tax Assessment Values Across Mooresboro, North Carolina
Source: Ownwell
$7,500
$137,850
$268,200
Average Mooresboro Assessed Value
$111,300
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 Mooresboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28114 | $27,540 | $66,300 | $111,300 | $148,000 | $188,760 |
Source: Ownwell
Property Tax Bills Across Mooresboro, North Carolina
In Mooresboro, located in Rutherford County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $111,300, which serves as a starting point for determining property taxes. Local tax authorities assess properties to establish their taxable value, and this assessed value is then multiplied by the local tax rate to generate the annual tax bill. Several factors influence the final tax bill, including property location, market conditions, and any applicable exemptions or deductions. For example, the 25th percentile of tax bills in Mooresboro is $274, while the 75th percentile is $604, and the 90th percentile reaches up to $822. These figures indicate the range within which most homeowners can expect their tax obligations to fall. Comparatively, the highest and lowest median tax bills in the area are both $429, highlighting a relatively consistent tax burden across different properties. Homeowners in Mooresboro should be aware of these factors as they can significantly impact annual financial planning and budgeting.
Average Mooresboro Tax Bill
$429
Average Rutherford County Tax Bill
$516
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooresboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28114 | $137 | $274 | $429 | $604 | $822 |
Source: Ownwell