Granite Quarry, North Carolina Property Taxes
The median property tax rate in Granite Quarry, NC is 1.02%, slightly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $183,668 in Granite Quarry, the typical annual property tax bill amounts to $1,870, which is below the national median of $2,690. Property taxes in Granite Quarry are determined based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a comprehensive understanding of Granite Quarry's property tax system, exploring available exemptions, and identifying potential reductions can lead to significant annual savings. Whether you're in the heart of Granite Quarry or another part of Rowan County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Granite Quarry, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,873
Ownwell’s Granite Quarry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granite Quarry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granite Quarry 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 Granite Quarry, North Carolina
Property taxes in Granite Quarry, 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 Granite Quarry is 1.02%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Granite Quarry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granite Quarry 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 Granite Quarry's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 28146 zip code has the highest median property tax rate of 1.02%, while the 28146 zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with Granite Quarry provides valuable insights into the varying tax landscape across Rowan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granite Quarry Tax Rate
1.02%
Average Rowan County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granite Quarry, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28146 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Granite Quarry, North Carolina
In Granite Quarry, 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 Rowan County Assessor 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 Granite Quarry, 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. For instance, the median home price in Granite Quarry is $183,668, with median tax bills ranging from $1,586 at the 25th percentile to $3,144 at the 90th percentile. The zip code 28146 has both the highest and lowest median tax bills at $1,870. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Granite Quarry, North Carolina
Source: Ownwell
$43,240
$356,407
$669,574
Average Granite Quarry Assessed Value
$183,668
Average Rowan County Assessed Value
$187,326
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granite Quarry, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28146 | $103,848 | $155,468 | $183,668 | $234,736 | $308,236 |
Source: Ownwell
Property Tax Bills Across Granite Quarry, North Carolina
In Granite Quarry, located in Rowan County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county's tax assessor and is typically a percentage of the property's market value. Homeowners in Granite Quarry experience property tax bills that vary significantly depending on their property's assessed value and the corresponding tax rate. For instance, the median home price in Granite Quarry is $183,668. Homeowners can expect a range of property tax bills, with the 25th percentile at around $1,586, the 75th percentile at approximately $2,394, and the 90th percentile reaching up to $3,144. This variation is due to differences in property values and the specific tax rates applied within the county. Compared to the national median property tax rate of 0.99%, the tax rates in Granite Quarry might seem high, but they reflect the local government's need to fund essential services such as schools, infrastructure, and emergency services. These taxes play a crucial role in maintaining the quality of life and public amenities in the community.
Average Granite Quarry Tax Bill
$1,870
Average Rowan County Tax Bill
$1,628
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Granite Quarry, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28146 | $1,059 | $1,586 | $1,870 | $2,394 | $3,144 |
Source: Ownwell