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Sunday, December 22, 2024

Analysis: Mecklenburg County effective property tax rates were lower than the national average in Q2 2023

Realestate4

Property owners in Mecklenburg County paid 0.6% of the value of their homes in property taxes in the second quarter of 2023, which is less than 0.5 times the national average, according to the real estate analysis posted by North Charlotte Today.

The median sales price of a Mecklenburg County home in the second quarter of 2023 was $395,000, based on data from the 4,091 properties sold during that time. In 2023, the median tax bill for the county was $2,375, which is 0.6% of the median value of the homes that were taxed.

This is 0.5 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Mecklenburg County real estate data showed homeowners in Davidson paid the highest tax rate of 0.7%.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2022 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Davidson with some other cities belonging to Mecklenburg County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Davidson76$597,500$3,9900.7%
Pineville31$340,000$2,0960.6%
Huntersville224$492,500$2,8590.6%
Charlotte3,396$375,000$2,2830.6%
Matthews97$475,000$2,6890.6%
Wildwoods4$236,000$1,5170.6%
Mint Hill97$450,000$2,3680.5%
Cornelius158$485,000$2,5670.5%
Stallings2$569,500$2,4080.4%

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