Randleman, North Carolina Property Taxes
The median property tax rate in Randleman, NC is 0.87%, which is lower than the national median of 0.99% but slightly higher than the North Carolina state median of 0.82%. With a median home value of $153,300 in Randleman, the typical annual property tax bill amounts to $1,266, which is below the national median of $2,690. Property taxes in Randleman 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 Randleman’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 Randleman 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
Randleman, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,334
Ownwell’s Randleman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randleman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randleman 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 Randleman, North Carolina
Property taxes in Randleman, 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 Randleman is 0.87%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Randleman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randleman 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 Randleman's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27317 zip code has both the highest and lowest median property tax rate of 0.87%. Understanding how these areas compare with Randleman provides valuable insights into the varying tax landscape across Guilford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randleman Tax Rate
0.87%
Average Guilford County Tax Rate
1.35%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randleman, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27317 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Randleman, North Carolina
In Randleman, 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 Guilford County 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 Randleman, 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. For example, the median home price in Randleman is $153,300, with tax bills ranging from $699 at the 25th percentile to $2,750 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Randleman, North Carolina
Source: Ownwell
$15,000
$189,700
$364,400
Average Randleman Assessed Value
$153,300
Average Guilford County Assessed Value
$164,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randleman, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27317 | $35,000 | $79,100 | $153,300 | $222,950 | $325,900 |
Source: Ownwell
Property Tax Bills Across Randleman, North Carolina
In Randleman, located in Guilford County, NC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The local tax rate, which is applied to this assessed value, is set by the local government and can vary from year to year. Homeowners in Randleman can expect their property tax bills to fall within a range depending on their property's assessed value. For instance, the 25th percentile tax bill is around $699, while the 75th percentile reaches approximately $1,889. At the higher end, the 90th percentile tax bill can be as much as $2,750. This variation shows how property taxes can differ significantly even within the same area. The median home price in Randleman is $153,300, and the median property tax bill in the area is $1,266, which is slightly above the national median property tax rate of 0.99%. This means homeowners in Randleman might pay slightly more in property taxes compared to the national average, impacting their overall housing costs.
Average Randleman Tax Bill
$1,266
Average Guilford County Tax Bill
$1,922
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Randleman, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27317 | $304 | $699 | $1,266 | $1,889 | $2,750 |
Source: Ownwell