Mc Grady, North Carolina Property Taxes
The median property tax rate in MC GRADY, NC is 0.78%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $100,490 in MC GRADY, the typical annual property tax bill amounts to $687, significantly less than the national median of $2,690. Property taxes in MC GRADY are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding MC GRADY'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 MC GRADY or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Grady, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$784
Ownwell’s MC GRADY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC GRADY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC GRADY 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 Mc Grady, North Carolina
Property taxes in MC GRADY, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC GRADY is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within MC GRADY set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC GRADY 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 MC GRADY's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28649 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with MC GRADY provides valuable insights into the varying tax landscape across Wilkes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Grady Tax Rate
0.78%
Average Wilkes County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Grady, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28649 | 0.55% | 0.76% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Mc Grady, North Carolina
In Mc Grady, 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 Wilkes 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 Mc Grady, 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 Mc Grady 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 $687.00, found in the zip code 28649.
Property Tax Assessment Values Across Mc Grady, North Carolina
Source: Ownwell
$87,490
$155,103
$222,715
Average Mc Grady Assessed Value
$100,490
Average Wilkes County Assessed Value
$107,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Grady, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28649 | $39,196 | $62,265 | $100,490 | $158,110 | $241,864 |
Source: Ownwell
Property Tax Bills Across Mc Grady, North Carolina
In Mc Grady, located in Wilkes County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, if a home in Mc Grady has a median home price of $100,490, the property tax bill can vary significantly. Homeowners in the 25th percentile might pay around $447 annually, while those in the 75th percentile could see bills as high as $1,179. For those in the 90th percentile, the tax bill can reach up to $1,731. These variations highlight how property taxes can impact homeowners differently based on their property values. Comparing this to the national median property tax rate of 0.99%, it's evident that local variations can lead to significant differences in tax obligations. The highest and lowest median tax bills in Mc Grady are both $687, indicating a relatively consistent tax rate within the area.
Average Mc Grady Tax Bill
$687
Average Wilkes County Tax Bill
$770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Grady, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28649 | $286 | $447 | $687 | $1,179 | $1,731 |
Source: Ownwell