Rocky Point, North Carolina Property Taxes
The median property tax rate in Rocky Point, NC is 0.94%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Rocky Point at $121,977, the typical annual property tax bill amounts to $1,098, which is below the national median of $2,690. Property taxes in Rocky Point are calculated based on the assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rocky Point'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 Rocky Point or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rocky Point, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,147
Ownwell’s Rocky Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rocky Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rocky Point 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 Rocky Point, North Carolina
Property taxes in Rocky Point, 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 Rocky Point is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Rocky Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rocky Point 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 Rocky Point's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28457 zip code has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Rocky Point provides valuable insights into the varying tax landscape across Pender County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rocky Point Tax Rate
0.94%
Average Pender County Tax Rate
0.88%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rocky Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28457 | 0.75% | 0.85% | 0.94% | 1.04% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Point, North Carolina
In Rocky Point, 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 Pender 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 Rocky Point, 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 Rocky Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Rocky Point is 28457, with a median tax bill of $1,098.
Property Tax Assessment Values Across Rocky Point, North Carolina
Source: Ownwell
$75,914
$253,666
$431,418
Average Rocky Point Assessed Value
$121,977
Average Pender County Assessed Value
$183,803
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rocky Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28457 | $45,044 | $74,206 | $121,977 | $210,116 | $282,155 |
Source: Ownwell
Property Tax Bills Across Rocky Point, North Carolina
In Rocky Point, property tax bills are determined based on the assessed value of the property and the local tax rate set by Pender County. The assessed value is an estimate of the property's market value, which is then multiplied by the tax rate to calculate the annual tax bill. Factors such as property size, location, and market conditions play a significant role in determining the assessed value. For homeowners in Rocky Point, the median home price is $121,977. Property tax bills can vary widely, with the 25th percentile at $720 and the 75th percentile at $1,780. The 90th percentile tax bill reaches up to $2,289. The highest and lowest median tax bills in the area are both $1,098, indicating some consistency in tax assessments within the zip code 28457. Compared to the national median property tax rate of 0.99%, Rocky Point's property tax rates can have a substantial impact on homeowners, influencing their financial planning and overall cost of living.
Average Rocky Point Tax Bill
$1,098
Average Pender County Tax Bill
$1,515
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rocky Point, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28457 | $332 | $720 | $1,098 | $1,780 | $2,289 |
Source: Ownwell