Roanoke, North Carolina Property Taxes
The median property tax rate in Roanoke, NC is 0.40%, 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 $150,000 in Roanoke, the typical annual property tax bill is around $600, which is well below the national median of $2,690. Property taxes in Roanoke are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Roanoke's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Roanoke or another part of the city, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Roanoke, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$600
Ownwell’s Roanoke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roanoke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roanoke 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 Roanoke, North Carolina
Property taxes in Roanoke, 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 Roanoke is 0.88%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Roanoke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roanoke 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 Roanoke's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in the region is 1.05%, while the lowest median tax rate is 0.40%. Understanding how these cities compare with Roanoke provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roanoke Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roanoke, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76262 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Roanoke, North Carolina
In Roanoke, 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 Avery 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 Roanoke, 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 Roanoke 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 are both $600, found in zip code 76262.
Property Tax Assessment Values Across Roanoke, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Roanoke Assessed Value
$150,000
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roanoke, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76262 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 |
Source: Ownwell
Property Tax Bills Across Roanoke, North Carolina
In Roanoke, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Roanoke, the median home price is $150,000. With a uniform tax bill of $600 across different percentiles, it suggests a relatively stable tax rate within the city. Factors considered in determining the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. This means that regardless of fluctuations in the market value, the assessed value remains a crucial determinant. For homeowners, this stable tax bill can provide a predictable financial obligation, aiding in budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Roanoke's property tax rate appears to be quite favorable, making it an attractive location for potential homeowners looking for affordability and stability in their property tax obligations.
Average Roanoke Tax Bill
$600
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Roanoke, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76262 | $600 | $600 | $600 | $600 | $600 |
Source: Ownwell