Rutherfordton, North Carolina Property Taxes
The median property tax rate in Rutherfordton, NC is 0.64%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $232,788 in Rutherfordton, the typical annual property tax bill is approximately $1,427, significantly below the national median of $2,690. Property taxes in Rutherfordton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Rutherfordton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Rutherfordton or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rutherfordton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,490
Ownwell’s Rutherfordton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rutherfordton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rutherfordton 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 Rutherfordton, North Carolina
Property taxes in Rutherfordton, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rutherfordton is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Rutherfordton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rutherfordton 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 Rutherfordton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28139 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Rutherfordton provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rutherfordton Tax Rate
0.64%
Average Polk County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rutherfordton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28139 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Rutherfordton, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rutherfordton, NC. 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 Polk 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 Rutherfordton, 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 Rutherfordton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rutherfordton is $232,788, with tax bills ranging from $942 at the 25th percentile to $3,126 at the 90th percentile. The zip code 28139 has the highest median tax bill of $1,427.
Property Tax Assessment Values Across Rutherfordton, North Carolina
Source: Ownwell
$182,271
$209,818
$237,364
Average Rutherfordton Assessed Value
$232,788
Average Polk County Assessed Value
$228,216
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rutherfordton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28139 | $90,022 | $152,574 | $232,788 | $353,286 | $598,322 |
Source: Ownwell
Property Tax Bills Across Rutherfordton, North Carolina
In Rutherfordton, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by local government authorities. For homeowners in Rutherfordton, the median home price is $232,788. The property tax rate in Rutherfordton can vary, but it generally falls around the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and local tax rates. For instance, the 25th percentile tax bill is $942, while the 75th percentile tax bill reaches $2,134, and the 90th percentile tax bill can go as high as $3,126. These variations illustrate how different property values and exemptions can impact the amount homeowners owe. Understanding these calculations is crucial for homeowners, as it directly affects their annual financial planning and overall cost of homeownership in Rutherfordton.
Average Rutherfordton Tax Bill
$1,427
Average Polk County Tax Bill
$1,542
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rutherfordton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28139 | $575 | $942 | $1,427 | $2,134 | $3,126 |
Source: Ownwell