Ramseur, North Carolina Property Taxes
The median property tax rate in Ramseur, NC is 0.64%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $152,520, the typical annual property tax bill in Ramseur is $1,112, well below the national median of $2,690. Property taxes in Ramseur are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ramseur'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 Ramseur or another part of Randolph County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ramseur, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$976
Ownwell’s Ramseur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramseur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramseur 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 Ramseur, North Carolina
Property taxes in Ramseur, 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 Ramseur is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Ramseur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramseur 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 Ramseur's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27316 has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Ramseur provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ramseur Tax Rate
0.64%
Average Randolph County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ramseur, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27316 | 0.59% | 0.60% | 0.64% | 0.66% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Ramseur, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ramseur, North Carolina. 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 Randolph 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 Ramseur, 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. The median home price in Ramseur is $152,520, with tax bills ranging from $749 at the 25th percentile to $2,226 at the 90th percentile. The highest and lowest median tax bills, both at $1,112, are found in the 27316 zip code. Being aware of these valuation processes in Ramseur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ramseur Assessed Value
$152,520
Average Randolph County Assessed Value
$167,245
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ramseur, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27316 | $64,670 | $109,420 | $152,520 | $224,270 | $344,280 |
Source: Ownwell
Property Tax Bills Across Ramseur, North Carolina
In Ramseur, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Randolph County tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Ramseur is $152,520, and the property tax rate in Randolph County is competitive when compared to the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's market value, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners in Ramseur, the tax bills can vary widely. For instance, the 25th percentile tax bill is $749, while the 75th percentile reaches $1,617, and the 90th percentile can go up to $2,226. The highest median tax bill in the area is $1,112, recorded in the 27316 zip code. These variations significantly impact homeowners, influencing affordability and the overall cost of homeownership in the region.
Average Ramseur Tax Bill
$1,112
Average Randolph County Tax Bill
$1,305
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramseur, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27316 | $378 | $749 | $1,112 | $1,617 | $2,226 |
Source: Ownwell