Personal finance website ranks county No. 2 in state
Personal finance website SmartAsset released a study recently that shows Mitchell County is No. 2 on the list of where North Carolina’s counties rank based on property taxes, schools and crimes per 100,000 people.
The website uses those three factors to determine and “Overall Value Index,” and Mitchell County’s score of 97.55 came in two points behind top-ranked Jones County and more than three points ahead of No. 3-ranked Camden County.
“Property taxes fuel community services across North Carolina, including crime prevention and public schools,” according to the website. “But some areas get better benefits compared to their tax rates than others.”
To measure the quality of schools, SmartAsset analyzed the math, reading and language arts proficiencies for every school district in the country. An average score was generated for each district by looking at the ratings for every school in that district, weighing it to account for the number of students in each school. Within each state, every county was assigned a score between one and 10 (with 10 being the best) based on the average scores of the districts in each county.
The violent and property crimes per 100,000 residents and using the school and crime numbers, the “Overall Value Index” score was generated – the ratio of the school rank to the combined crime rate per 100,000 residents.
SmartAsset then used the number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county in the state.
Finally, SmartAsset calculated a tax value by creating a ratio of the community score to the per capita property tax paid. These results revealed the counties in the country where people’s property tax dollars go the furthest.
An interactive map at smartasset.com/taxes/north-carolina-property-tax-calculator#map highlights the places across the country where property tax dollars are being spent most effectively. See the full report here: https://smartasset.com/taxes/north-carolina-property-tax-calculator.