Reidsville, North Carolina Property Taxes
The median property tax rate in Reidsville, NC is 0.87%, which is slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $101,400 in Reidsville, the typical annual property tax bill is approximately $827, significantly lower than the national median of $2,690. Property taxes in Reidsville are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Reidsville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Reidsville or investing in its real estate market, comprehending the local property tax structure is crucial for maximizing your financial benefits.
Last Updated June 14, 2024
Reidsville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$882
Ownwell’s Reidsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reidsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reidsville 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 Reidsville, North Carolina
Property taxes in Reidsville, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reidsville is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Reidsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reidsville 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 Reidsville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27320 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Reidsville provides valuable insights into the varying tax landscape across Guilford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reidsville Tax Rate
0.87%
Average Guilford County Tax Rate
1.35%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reidsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27320 | 0.86% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Reidsville, North Carolina
In Reidsville, 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 Guilford 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 Reidsville, 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. The median home price in Reidsville is $101,400, with tax bills ranging from $591 at the 25th percentile to $2,085 at the 90th percentile. The zip code 27320 has both the highest and lowest median tax bill, which is $827. 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 Reidsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Reidsville, North Carolina
Source: Ownwell
$15,000
$189,700
$364,400
Average Reidsville Assessed Value
$101,400
Average Guilford County Assessed Value
$164,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reidsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27320 | $41,610 | $70,825 | $101,400 | $185,825 | $286,140 |
Source: Ownwell
Property Tax Bills Across Reidsville, North Carolina
In Reidsville, located in Guilford County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is then multiplied by the local tax rate to generate the annual property tax bill. For instance, the median home price in Reidsville is $101,400. Homeowners can expect their tax bills to vary, with the 25th percentile at $591 and the 75th percentile at $1523. The highest median tax bill in the area is $827, found in the 27320 zip code. These figures indicate that property taxes in Reidsville can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly. The variability in tax bills highlights the importance of the assessed home value and the local tax rate in determining the financial responsibility of property ownership.
Average Reidsville Tax Bill
$827
Average Guilford County Tax Bill
$1,922
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Reidsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27320 | $277 | $591 | $827 | $1,523 | $2,085 |
Source: Ownwell