Ruffin, North Carolina Property Taxes
The median property tax rate in Ruffin, NC is 0.88%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $84,936 in Ruffin, the typical annual property tax bill amounts to $728, which is significantly below the national median of $2,690. Property taxes in Ruffin are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ruffin'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 Ruffin or another part of Caswell County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ruffin, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$747
Ownwell’s Ruffin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruffin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruffin 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 Ruffin, North Carolina
Property taxes in Ruffin, 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 Ruffin is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Ruffin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruffin 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 Ruffin's effective property tax rate to other areas in Caswell County and the national median. For comparison, the zip code 27326 has both the highest and lowest median property tax rate in the county, standing at 0.88%. Understanding how these rates compare with Ruffin provides valuable insights into the varying tax landscape across Caswell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruffin Tax Rate
0.88%
Average Caswell County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruffin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27326 | 0.58% | 0.78% | 0.88% | 0.94% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Ruffin, North Carolina
In Ruffin, 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 Caswell 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 Ruffin, 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 Ruffin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ruffin is $84,936, with tax bills ranging from $568 at the 25th percentile to $1,465 at the 90th percentile. The highest and lowest median tax bills are both $728 in the 27326 zip code.
Average Ruffin Assessed Value
$84,936
Average Caswell County Assessed Value
$93,808
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruffin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27326 | $46,512 | $65,419 | $84,936 | $132,641 | $210,077 |
Source: Ownwell
Property Tax Bills Across Ruffin, North Carolina
In Ruffin, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Caswell County. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Ruffin can expect their tax bills to fall within a certain range, depending on their property's assessed value and the applicable tax rate. For example, the median home price in Ruffin is $84,936. At the 25th percentile, the tax bill is around $568, while at the 75th percentile, it reaches $1,071. Those at the 90th percentile might pay up to $1,465 in property taxes. These figures indicate a significant variance, influenced by property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Ruffin's tax bills show a range that can affect homeowners differently based on their property's assessed value. Understanding these factors can help homeowners in Ruffin better anticipate their annual property tax obligations and plan accordingly.
Average Ruffin Tax Bill
$728
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruffin, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27326 | $391 | $568 | $728 | $1,071 | $1,465 |
Source: Ownwell