Rural Hall, North Carolina Property Taxes
The median property tax rate in Rural Hall, NC is 0.74%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $140,900 in Rural Hall, the typical annual property tax bill is approximately $1,024, falling well below the national median of $2,690. Property taxes in Rural Hall are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Rural Hall's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you reside in Rural Hall or another part of Stokes County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rural Hall, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,043
Ownwell’s RURAL HALL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RURAL HALL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RURAL HALL 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 Rural Hall, North Carolina
Property taxes in Rural Hall, 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 Rural Hall is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Rural Hall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rural Hall 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 Rural Hall's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27045 has both the highest and lowest median property tax rate of 0.74%. Understanding how these areas compare with Rural Hall provides valuable insights into the varying tax landscape across Stokes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rural Hall Tax Rate
0.74%
Average Stokes County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rural Hall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27045 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Rural Hall, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rural Hall, 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 Stokes 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. 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 Rural Hall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 27045 in Rural Hall has both the highest and lowest median tax bills, each valued at $1,024.
Property Tax Assessment Values Across Rural Hall, North Carolina
Source: Ownwell
$83,700
$329,300
$574,900
Average Rural Hall Assessed Value
$140,900
Average Stokes County Assessed Value
$130,100
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rural Hall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27045 | $54,110 | $91,725 | $140,900 | $198,125 | $291,600 |
Source: Ownwell
Property Tax Bills Across Rural Hall, North Carolina
In Rural Hall, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by Stokes County. For homeowners in Rural Hall, the median home price stands at $140,900. Property tax bills can vary significantly, with the 25th percentile tax bill at $615 and the 75th percentile tax bill reaching $1,670. The 90th percentile tax bill is $2,075, highlighting how assessments and property values impact the final amount due. Several factors influence these tax bills, including property size, location, and improvements made to the home. The assessed value is crucial as it directly affects the tax bill, meaning homeowners with higher assessed properties will pay more. Comparing these figures with the national median property tax rate of 0.99%, Rural Hall residents experience a diverse range of tax bills, emphasizing the importance of understanding local property tax dynamics.
Average Rural Hall Tax Bill
$1,024
Average Stokes County Tax Bill
$951
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rural Hall, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27045 | $353 | $615 | $1,024 | $1,670 | $2,075 |
Source: Ownwell