Rutherfordton, North Carolina Property Taxes
The median property tax rate in Rutherfordton, NC is 0.42%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Rutherfordton at $128,450, the typical annual property tax bill is $508, well below the national median of $2,690. Property taxes in Rutherfordton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rutherfordton'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 Rutherfordton 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
Rutherfordton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$539
Ownwell’s Rutherfordton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rutherfordton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rutherfordton 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 Rutherfordton, North Carolina
Property taxes in Rutherfordton, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rutherfordton is 0.42%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Rutherfordton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rutherfordton 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 Rutherfordton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28139 zip code has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Rutherfordton provides valuable insights into the varying tax landscape across Rutherford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rutherfordton Tax Rate
0.42%
Average Rutherford County Tax Rate
0.45%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rutherfordton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28139 | 0.21% | 0.34% | 0.42% | 0.55% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Rutherfordton, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rutherfordton, 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 Rutherford 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 Rutherfordton, 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 Rutherfordton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rutherfordton is $508 in the 28139 zip code, while the lowest median tax bill is also $508 in the same zip code.
Property Tax Assessment Values Across Rutherfordton, North Carolina
Source: Ownwell
$7,500
$137,850
$268,200
Average Rutherfordton Assessed Value
$128,450
Average Rutherford County Assessed Value
$123,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rutherfordton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28139 | $39,150 | $87,375 | $128,450 | $180,100 | $245,800 |
Source: Ownwell
Property Tax Bills Across Rutherfordton, North Carolina
In Rutherfordton, NC, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $128,450, homeowners can expect varying tax bills. At the 25th percentile, tax bills are around $325, while those at the 75th percentile reach approximately $749. The highest median tax bill recorded in the area is $508, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property location, home value, and applicable exemptions. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community. For homeowners, understanding these factors is crucial for financial planning and anticipating annual expenses. By being aware of how property taxes are calculated, residents can better navigate their obligations and potentially seek exemptions or appeals if they believe their assessment is incorrect.
Average Rutherfordton Tax Bill
$508
Average Rutherford County Tax Bill
$516
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rutherfordton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28139 | $157 | $325 | $508 | $749 | $1,328 |
Source: Ownwell