Union Grove, North Carolina Property Taxes
The median property tax rate in Union Grove, NC is 0.73%, notably 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 Grove, the typical annual property tax bill reaches $1,451, which is significantly below the national median of $2,690. Property taxes in Union Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Union Grove'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 Union Grove or another part of Yadkin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,562
$1,449
Ownwell’s Union Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union Grove 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 Grove, North Carolina
Property taxes in Union Grove, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union Grove is 0.73%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Union Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union Grove 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 Grove's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28689 zip code has the highest median property tax rate of 0.73%, while the 28689 zip code has the lowest median tax rate of 0.73%. Understanding how these cities compare with Union Grove provides valuable insights into the varying tax landscape across Yadkin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union Grove Tax Rate
0.73%
Average Yadkin County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28689 | 0.41% | 0.59% | 0.73% | 0.75% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Union Grove, North Carolina
In Union Grove, 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 Yadkin 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 Grove, 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 Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Union Grove is $1451 in the 28689 zip code, while the lowest median tax bill is also $1451 in the same zip code.
Property Tax Assessment Values Across Union Grove, North Carolina
Source: Ownwell
$114,852
$182,286
$249,719
Average Union Grove Assessed Value
$213,971
Average Yadkin County Assessed Value
$133,219
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28689 | $68,626 | $116,898 | $213,971 | $374,830 | $536,739 |
Source: Ownwell
Property Tax Bills Across Union Grove, North Carolina
In Union Grove, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Yadkin County tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Union Grove is $213,971, and property tax bills in this area vary significantly. For example, tax bills at the 25th percentile are around $825, while those at the 75th percentile reach approximately $2,240. At the 90th percentile, homeowners can expect to pay up to $3,107. Several factors influence these variations, including property size, location, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, Union Grove's tax rates can result in relatively high or low tax bills depending on the specific property. For homeowners, understanding these factors is crucial as they directly impact annual financial obligations and long-term property investment returns.
Average Union Grove Tax Bill
$1,451
Average Yadkin County Tax Bill
$1,085
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Union Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28689 | $560 | $825 | $1,451 | $2,240 | $3,107 |
Source: Ownwell