Waxhaw, North Carolina Property Taxes
The median property tax rate in Waxhaw, NC is 0.64%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Waxhaw at $426,050, the typical annual property tax bill reaches $3,108, surpassing the national median of $2,690. Property taxes in Waxhaw are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Waxhaw'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 Waxhaw or another part of Union County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waxhaw, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$2,727
Ownwell’s Waxhaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waxhaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waxhaw 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 Waxhaw, North Carolina
Property taxes in Waxhaw, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waxhaw is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Waxhaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waxhaw 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 Waxhaw's effective property tax rate to other areas in Union County and the national median. For comparison, the zip code 28173 has both the highest and lowest median property tax rate of 0.64%, matching Waxhaw's rate. Understanding how these areas compare with Waxhaw provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waxhaw Tax Rate
0.64%
Average Union County Tax Rate
0.67%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waxhaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28173 | 0.63% | 0.63% | 0.64% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Waxhaw, North Carolina
In Waxhaw, 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 Union 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 Waxhaw, 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. For instance, the highest median tax bill in Waxhaw is $3,108 in zip code 28173, which contrasts with the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waxhaw Assessed Value
$426,050
Average Union County Assessed Value
$277,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waxhaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28173 | $189,500 | $302,800 | $426,050 | $559,775 | $847,550 |
Source: Ownwell
Property Tax Bills Across Waxhaw, North Carolina
In Waxhaw, located in Union County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the market value. Homeowners in Waxhaw experience varying tax bills, influenced by the assessed value and the tax rate set by local authorities. For example, the median home price in Waxhaw is $426,050. Property tax bills can range significantly, with the 25th percentile at $2,225 and the 75th percentile at $4,520, while the 90th percentile reaches up to $5,801. The highest median tax bill in the area is $3,108, which is notable when compared to the national median property tax rate of 0.99%. These tax bills directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Waxhaw Tax Bill
$3,108
Average Union County Tax Bill
$2,194
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Waxhaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28173 | $1,328 | $2,225 | $3,108 | $4,520 | $5,801 |
Source: Ownwell