Providence, North Carolina Property Taxes
The median property tax rate in Providence, NC is 0.86%, slightly higher than the state median of 0.82% but below the national median of 0.99%. With a median home value of $104,601, the typical annual property tax bill in Providence is approximately $882, which is significantly less than the national median of $2,690. Property taxes in Providence are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Providence'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 Providence or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Providence, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$900
Ownwell’s Providence Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Providence with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Providence to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Providence, North Carolina
Property taxes in Providence, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Providence is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Providence set these rates annually, and they can vary significantly across different neighborhoods. Each year, Providence 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 Providence's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27315 has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Providence provides valuable insights into the varying tax landscape across Caswell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Providence Tax Rate
0.86%
Average Caswell County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Providence, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27315 | 0.62% | 0.81% | 0.86% | 0.93% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Providence, North Carolina
In Providence, 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 Caswell 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 Providence, 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 Providence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $882, found in zip code 27315.
Property Tax Assessment Values Across Providence, North Carolina
Source: Ownwell
$73,037
$187,890
$302,742
Average Providence Assessed Value
$104,601
Average Caswell County Assessed Value
$93,808
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Providence, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27315 | $40,842 | $66,156 | $104,601 | $168,396 | $245,237 |
Source: Ownwell
Property Tax Bills Across Providence, North Carolina
In Providence, Caswell County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is derived from the market value of the property, and local authorities apply the tax rate to this value to determine the annual tax bill. For instance, the median home price in Providence is $104,601, and property tax rates are applied to this value to calculate the tax bill. Several factors influence the final tax bill, including the property's location, improvements made, and any applicable exemptions. Homeowners in Providence can expect a range of tax bills depending on these factors. At the 25th percentile, the tax bill is around $580, while at the 75th percentile, it rises to approximately $1,311. For those at the 90th percentile, the tax bill can reach up to $1,864. These property taxes significantly impact homeowners by contributing to local services, such as schools and infrastructure, thereby affecting both their financial planning and community resources.
Average Providence Tax Bill
$882
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Providence, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27315 | $383 | $580 | $882 | $1,311 | $1,864 |
Source: Ownwell