China Grove, North Carolina Property Taxes
The median property tax rate in China Grove, 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 China Grove at $190,749, the typical annual property tax bill reaches $1,582, well below the national median of $2,690. Property taxes in China Grove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding China Grove'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 China Grove 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
China Grove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,297
Ownwell’s China Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in China Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in China Grove 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 China Grove, North Carolina
Property taxes in China Grove, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in China Grove is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within China Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, China Grove 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 China Grove's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28023 zip code has the highest median property tax rate of 0.68%, while the 28023 zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with China Grove 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 China Grove 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 China Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28023 | 0.66% | 0.67% | 0.68% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across China Grove, North Carolina
In China Grove, 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 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 China Grove, 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 China Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In China Grove, the highest median tax bill is $1,582 in the zip code 28023, which also has the lowest median tax bill, reflecting the uniformity in property tax assessments within this region.
Property Tax Assessment Values Across China Grove, North Carolina
Source: Ownwell
$43,240
$356,407
$669,574
Average China Grove Assessed Value
$190,749
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 China Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28023 | $84,998 | $129,149 | $190,749 | $296,930 | $445,078 |
Source: Ownwell
Property Tax Bills Across China Grove, North Carolina
Property tax bills in China Grove, located in Rowan County, NC, are calculated based on the assessed value of a property and the local tax rate. Homeowners in this area face a median home price of $190,749. The assessed value is determined by the county's property assessor, who evaluates the property to establish its taxable value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. In China Grove, property tax bills can vary significantly. For example, the 25th percentile tax bill is around $1,015, while the 75th percentile tax bill is approximately $2,351. At the 90th percentile, homeowners could be paying as much as $3,497. This variation is influenced by factors such as property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Rowan County's tax rate can result in a substantial financial commitment for homeowners. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average China Grove Tax Bill
$1,582
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 China Grove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28023 | $622 | $1,015 | $1,582 | $2,351 | $3,497 |
Source: Ownwell