Salisbury, North Carolina Property Taxes
The median property tax rate in Salisbury, NC is 0.68%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Salisbury at $194,496, the typical annual property tax bill is around $1,679, falling below the national median of $2,690. Property taxes in Salisbury are calculated based on the tax assessed value, which often is less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Salisbury'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 Salisbury or another part of Rowan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Salisbury, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,323
Ownwell’s Salisbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salisbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salisbury 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 Salisbury, North Carolina
Property taxes in Salisbury, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salisbury is 0.68%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Salisbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salisbury 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 Salisbury's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 28144 zip code has the highest median property tax rate of 1.20%, while the 28146 zip code has the lowest median tax rate of 0.67%. Understanding how these areas compare with Salisbury 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 Salisbury Tax Rate
0.68%
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 Salisbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28144 | 0.67% | 1.13% | 1.20% | 1.20% | 1.20% |
| 28145 | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
| 28146 | 0.64% | 0.66% | 0.67% | 1.02% | 1.20% |
| 28147 | 0.67% | 0.68% | 0.68% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Salisbury, North Carolina
In Salisbury, 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 Salisbury, 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 Salisbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Salisbury, the highest median tax bill is $1,820 in the 28145 zip code, while the lowest median tax bill is $1,577 in the 28147 zip code.
Property Tax Assessment Values Across Salisbury, North Carolina
Source: Ownwell
$43,240
$356,407
$669,574
Average Salisbury Assessed Value
$194,496
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 Salisbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28144 | $78,914 | $115,597 | $166,728 | $252,929 | $402,601 |
| 28145 | $168,497 | $168,497 | $168,497 | $168,497 | $168,497 |
| 28146 | $80,426 | $140,456 | $216,343 | $317,226 | $450,714 |
| 28147 | $61,731 | $125,146 | $197,869 | $288,296 | $383,223 |
Source: Ownwell
Property Tax Bills Across Salisbury, North Carolina
In Salisbury, Rowan County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Salisbury can expect varying tax bills depending on these factors. For example, the 25th percentile tax bill is around $1,055, while the 75th percentile tax bill can reach up to $2,542. The 90th percentile tax bill is even higher, at approximately $3,753. Comparatively, the national median property tax rate is 0.99%, and Salisbury's tax bills are influenced by the local rates and property values. Homeowners in the zip code 28145 face the highest median tax bill at $1,820, whereas those in the 28147 zip code have the lowest median tax bill at $1,577. Understanding these factors helps homeowners anticipate their property tax obligations.
Average Salisbury Tax Bill
$1,679
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 Salisbury, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28144 | $772 | $1,165 | $1,730 | $2,744 | $4,586 |
| 28145 | $1,820 | $1,820 | $1,820 | $1,820 | $1,820 |
| 28146 | $559 | $1,041 | $1,698 | $2,651 | $3,799 |
| 28147 | $447 | $958 | $1,577 | $2,256 | $2,982 |
Source: Ownwell