Rocky Mount, North Carolina Property Taxes
The median property tax rate in Rocky Mount, 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 $485,100 in Rocky Mount, the typical annual property tax bill is about $1,940, well below the national median of $2,690. Property taxes in Rocky Mount are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rocky Mount'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 Rocky Mount 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
Rocky Mount, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,940
Ownwell’s Rocky Mount Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rocky Mount with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rocky Mount to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rocky Mount, North Carolina
Property taxes in Rocky Mount, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rocky Mount is 0.40%, which is considerably lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Rocky Mount set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rocky Mount 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 Rocky Mount's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27804 has both the highest and lowest median property tax rate at 0.40%. Understanding how these areas compare with Rocky Mount 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 Rocky Mount 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 Rocky Mount, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27804 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Mount, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rocky Mount, NC. 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 Rocky Mount, 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 Rocky Mount helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Rocky Mount, the highest and lowest median tax bills are both $1,940, found in the zip code 27804.
Property Tax Assessment Values Across Rocky Mount, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Rocky Mount Assessed Value
$485,100
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 Rocky Mount, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27804 | $485,100 | $485,100 | $485,100 | $485,100 | $485,100 |
Source: Ownwell
Property Tax Bills Across Rocky Mount, North Carolina
In Rocky Mount, Avery County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Rocky Mount face a median property tax bill of $1,940, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any improvements made. The uniformity in tax bills, with the 25th, 75th, and 90th percentiles all at $1,940, indicates a consistent assessment process across the area. For homeowners, this means predictable tax expenses, which can aid in financial planning. However, it also highlights the importance of ensuring that the assessed value accurately reflects the property's market value to avoid overpayment. Understanding these factors can help homeowners better anticipate their property tax obligations and potentially seek appeals if discrepancies arise.
Average Rocky Mount Tax Bill
$1,940
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rocky Mount, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27804 | $1,940 | $1,940 | $1,940 | $1,940 | $1,940 |
Source: Ownwell