Rocky Mount, North Carolina Property Taxes
The median property tax rate in Rocky Mount, NC, is 0.67%, lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $102,370 in Rocky Mount, the typical annual property tax bill amounts to $722, significantly below the national median of $2,690. Property taxes in Rocky Mount are calculated based on the assessed value, which is often less than 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 substantial annual savings. Whether you're in the heart of Rocky Mount or another part of the city, comprehending 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
0.67%
Estimate Property Tax Bill
$686
Ownwell’s Rocky Mount Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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 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 Nash County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rocky Mount, North Carolina
Property taxes in Rocky Mount, 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 Rocky Mount is 0.67%, which is lower than 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 areas in Nash County and the national median. For comparison, the 27801 zip code has the highest median property tax rate of 1.70%, while the 27804 zip code has the lowest median tax rate of 0.67%. Understanding how these areas compare with Rocky Mount provides valuable insights into the varying tax landscape across Nash County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rocky Mount Tax Rate
0.67%
Average Nash County Tax Rate
0.72%
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 |
|---|---|---|---|---|---|
| 27801 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
| 27803 | 0.67% | 0.67% | 0.67% | 0.84% | 0.98% |
| 27804 | 0.67% | 0.67% | 0.67% | 0.67% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Mount, North Carolina
In Rocky Mount, 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 Nash 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. 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 instance, the highest median tax bill in Rocky Mount is $728 in the 27804 zip code, while the lowest is $498 in the 27801 zip code. 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 Rocky Mount, North Carolina
Source: Ownwell
$29,310
$100,405
$171,500
Average Rocky Mount Assessed Value
$102,370
Average Nash County Assessed Value
$102,010
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 |
|---|---|---|---|---|---|
| 27801 | $29,310 | $29,310 | $29,310 | $29,310 | $29,310 |
| 27803 | $17,465 | $41,698 | $95,160 | $157,628 | $244,905 |
| 27804 | $40,188 | $73,260 | $106,280 | $159,330 | $231,810 |
Source: Ownwell
Property Tax Bills Across Rocky Mount, North Carolina
In Rocky Mount, Nash County, NC, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's tax assessor and is intended to reflect the property's market value. For homeowners in Rocky Mount, the median home price stands at $102,370. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the tax bill, including the property's location, size, and any improvements made. For instance, in the 27804 zip code, the highest median tax bill is $728, while in the 27801 zip code, the lowest median tax bill is $498. Tax bills can vary significantly, with the 25th percentile at $426 and the 75th percentile at $1179, reaching up to $1784 at the 90th percentile. These property taxes fund essential local services such as schools, emergency services, and infrastructure. For homeowners, understanding these factors is crucial as it directly impacts their annual financial planning and the overall cost of homeownership.
Average Rocky Mount Tax Bill
$722
Average Nash County Tax Bill
$784
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 |
|---|---|---|---|---|---|
| 27801 | $498 | $498 | $498 | $498 | $498 |
| 27803 | $118 | $309 | $712 | $1,254 | $1,922 |
| 27804 | $265 | $482 | $728 | $1,125 | $1,684 |
Source: Ownwell