Roaring Gap, North Carolina Property Taxes
The median property tax rate in Roaring Gap, NC is 0.68%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Roaring Gap at $200,900, the typical annual property tax bill reaches $1,206, which is significantly below the national median of $2,690. Property taxes in Roaring Gap 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 Roaring Gap'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 Roaring Gap or another part of Alleghany County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Roaring Gap, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,366
Ownwell’s Roaring Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roaring Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roaring Gap 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 Roaring Gap, North Carolina
Property taxes in Roaring Gap, 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 Roaring Gap is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Roaring Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roaring Gap 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 Roaring Gap's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28668 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Roaring Gap provides valuable insights into the varying tax landscape across Alleghany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roaring Gap Tax Rate
0.68%
Average Alleghany County Tax Rate
0.70%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roaring Gap, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28668 | 0.63% | 0.65% | 0.68% | 0.75% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Roaring Gap, North Carolina
In Roaring Gap, 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 Alleghany 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 Roaring Gap, 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 Roaring Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $1206, specifically in zip code 28668.
Property Tax Assessment Values Across Roaring Gap, North Carolina
Source: Ownwell
$117,900
$168,300
$218,700
Average Roaring Gap Assessed Value
$200,900
Average Alleghany County Assessed Value
$157,000
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roaring Gap, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28668 | $73,100 | $116,100 | $200,900 | $473,100 | $549,200 |
Source: Ownwell
Property Tax Bills Across Roaring Gap, North Carolina
In Roaring Gap, located in Alleghany County, NC, property tax bills are determined by assessing the property's market value and applying the local tax rate. The process begins with the county assessor evaluating the market value of a home, which is then used to calculate the assessed value. The assessed value is multiplied by the local property tax rate to determine the annual tax bill. Factors influencing this calculation include the property's market value, local tax rates, and any applicable exemptions. For instance, the median home price in Roaring Gap is $200,900. Homeowners in the 25th percentile can expect a tax bill around $840, while those in the 75th percentile may see bills up to $2,942. At the 90th percentile, tax bills can reach as high as $3,601. This system ensures that property taxes are proportional to property values, affecting homeowners by linking their tax obligations directly to the market value of their homes. Compared to the national median property tax rate of 0.99%, Roaring Gap's property tax bills reflect the local economic conditions and property values.
Average Roaring Gap Tax Bill
$1,206
Average Alleghany County Tax Bill
$1,019
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Roaring Gap, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28668 | $547 | $840 | $1,206 | $2,942 | $3,601 |
Source: Ownwell