Homeowner's Insurance and Real Estate Taxes in Charlotte / Mecklenburg County (sale, homeowners insurance)

[jasontarazi]

Hi folks,

Good afternoon! I am contemplating a move to Charlotte, NC, and I have two questions for the members of this forum:

1. What are the annual property insurance premiums for a $250,000 single-family home built between 1995 and 2000 located in Mecklenburg County within the Charlotte city limits?

2. On the exact same home, what is the appraised value for tax assessment? I understand that the combined property tax rate for Charlotte and Mecklenburg County is $1.2775 per $100 of appraised value - but what I don't know is, if I purchase this type of home at $250,000 in the Charlotte city limits, what would be the appraised value?

Thanks so much!

Jason Tarazi

[Charlotte ePro]

The homeowners insurance would cost you anywhere from $300-$700 a year. Price depends on building material, deductibles, and things like number of smoke detectors, security system, etc.

Your tax value question can really vary.

In some areas you can buy a 250K home that has a tax value of 240K, in other areas the same priced home may have a tax value of only 125K.

Obviously the latter scenario would be a much smaller home in a very high demand area.

If I had to guesstimate an "average range" for your pricetag, I would guess tax value will probably run between 175-225k.

[south.charlotte&union]

Originally Posted by jasontarazi

Hi folks,

Good afternoon! I am contemplating a move to Charlotte, NC, and I have two questions for the members of this forum:

1. What are the annual property insurance premiums for a $250,000 single-family home built between 1995 and 2000 located in Mecklenburg County within the Charlotte city limits?

2. On the exact same home, what is the appraised value for tax assessment? I understand that the combined property tax rate for Charlotte and Mecklenburg County is $1.2775 per $100 of appraised value - but what I don't know is, if I purchase this type of home at $250,000 in the Charlotte city limits, what would be the appraised value?

Thanks so much!

Jason Tarazi

True, appraised value often has no relationship to sale price. Your realtor should be able to advise you as to what the taxes are on any house in which you are interested. Feel free to PM me if I can assist in any way.