Union Mills, North Carolina Property Taxes
The median property tax rate in Union Mills, NC is 0.40%, 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 Union Mills at $121,800, the typical annual property tax bill amounts to $487, much less than the national median of $2,690. Property taxes in Union Mills are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Union Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Union Mills 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
Union Mills, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$487
$452
Ownwell’s UNION MILLS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UNION MILLS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UNION MILLS 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 Union Mills, North Carolina
Property taxes in Union Mills, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union Mills is 0.40%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Union Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union Mills 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 Union Mills' effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28167 has both the highest and the lowest median property tax rate of 0.40%. Understanding how these areas compare with Union Mills 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 Union Mills Tax Rate
0.40%
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 Union Mills, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28167 | 0.17% | 0.31% | 0.40% | 0.48% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Union Mills, North Carolina
In Union Mills, 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. In Union Mills, 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 Union Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28167 has the highest median tax bill of $487.00, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Union Mills, North Carolina
Source: Ownwell
$7,500
$137,850
$268,200
Average Union Mills Assessed Value
$121,800
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 Union Mills, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28167 | $44,550 | $79,300 | $121,800 | $181,900 | $285,710 |
Source: Ownwell
Property Tax Bills Across Union Mills, North Carolina
In Union Mills, located in Rutherford County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. For instance, with a median home price of $121,800, the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. The tax bill can vary significantly, with the 25th percentile at $299 and the 75th percentile at $722. For homeowners in the 90th percentile, the bill can reach up to $1,192. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Union Mills offers a relatively affordable property tax environment, providing a manageable financial obligation for homeowners while supporting essential community services.
Average Union Mills Tax Bill
$487
Average Rutherford County Tax Bill
$516
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Union Mills, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28167 | $123 | $299 | $487 | $722 | $1,192 |
Source: Ownwell