Mount Airy, North Carolina Property Taxes
The median property tax rate in Mount Airy, NC is 0.74%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Mount Airy at $109,000, the typical annual property tax bill amounts to $663, significantly below the national median of $2,690. Property taxes in Mount Airy are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Airy's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Mount Airy or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Airy, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$807
$749
Ownwell’s MOUNT AIRY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT AIRY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT AIRY 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 Mount Airy, North Carolina
Property taxes in Mount Airy, 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 Mount Airy is 0.74%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Mount Airy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Airy 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 Mount Airy's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27030 has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Mount Airy provides valuable insights into the varying tax landscape across Stokes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Airy Tax Rate
0.74%
Average Stokes County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Airy, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27030 | 0.42% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Mount Airy, North Carolina
In Mount Airy, 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 local 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 Mount Airy, 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 Mount Airy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $663.00, found in the 27030 zip code.
Property Tax Assessment Values Across Mount Airy, North Carolina
Source: Ownwell
$83,700
$329,300
$574,900
Average Mount Airy Assessed Value
$109,000
Average Stokes County Assessed Value
$130,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Airy, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27030 | $30,010 | $57,325 | $109,000 | $158,075 | $249,260 |
Source: Ownwell
Property Tax Bills Across Mount Airy, North Carolina
In Mount Airy, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $109,000, homeowners can expect varying tax bills. The 25th percentile tax bill is around $397, while the 75th percentile reaches up to $1,022, and the 90th percentile can be as high as $1,544. The highest and lowest median tax bills in the area are both reported at $663, which is relatively moderate compared to the national median property tax rate of 0.99%. These factors collectively impact homeowners, influencing their annual financial planning and the overall cost of homeownership in Mount Airy. Understanding these components can help residents anticipate their property tax obligations more accurately.
Average Mount Airy Tax Bill
$663
Average Stokes County Tax Bill
$951
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Airy, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27030 | $222 | $397 | $663 | $1,022 | $1,544 |
Source: Ownwell