Gibsonville, North Carolina Property Taxes
The median property tax rate in Gibsonville, NC is 0.81%, slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Gibsonville at $93,424, the typical annual property tax bill reaches $750, which is significantly below the national median of $2,690. Property taxes in Gibsonville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Gibsonville'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 Gibsonville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gibsonville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$757
Ownwell’s Gibsonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gibsonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gibsonville 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 Gibsonville, North Carolina
Property taxes in Gibsonville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gibsonville is 0.81%, lower than the U.S. national median of 0.99%. Local government entities within Gibsonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gibsonville 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 Gibsonville's effective property tax rate to other areas in Rockingham County and the national median. For comparison, the zip code 27249 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Gibsonville provides valuable insights into the varying tax landscape across Rockingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gibsonville Tax Rate
0.81%
Average Rockingham County Tax Rate
0.81%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | 0.53% | 0.80% | 0.81% | 0.81% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Gibsonville, North Carolina
In Gibsonville, 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 Rockingham County 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 Gibsonville, 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 Gibsonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gibsonville stands at $93,424, with tax bills ranging from $308 at the 25th percentile to $2,097 at the 90th percentile. The zip code 27249 consistently shows a median tax bill of $750.
Property Tax Assessment Values Across Gibsonville, North Carolina
Source: Ownwell
$5,631
$70,151
$134,671
Average Gibsonville Assessed Value
$93,424
Average Rockingham County Assessed Value
$76,220
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | $15,675 | $36,262 | $93,424 | $177,964 | $316,116 |
Source: Ownwell
Property Tax Bills Across Gibsonville, North Carolina
In Gibsonville, Rockingham County, NC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and represents the market value of the home. Rockingham County applies its tax rate to this assessed value to calculate the annual property tax bill. For a median home price of $93,424, homeowners can expect varying tax bills depending on their property’s assessed value and specific circumstances. The 25th percentile tax bill is approximately $308, while the 75th percentile reaches up to $1,347. The 90th percentile tax bill can be as high as $2,097. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Higher property taxes in Gibsonville can significantly impact homeowners, influencing decisions about property purchases and home improvements. Understanding these factors helps homeowners better plan their finances and anticipate future tax obligations.
Average Gibsonville Tax Bill
$750
Average Rockingham County Tax Bill
$704
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Gibsonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27249 | $126 | $308 | $750 | $1,347 | $2,097 |
Source: Ownwell