Rougemont, Orange County, North Carolina Property Taxes
The median property tax rate in Rougemont, NC is 0.96%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $237,150 in Rougemont, the typical annual property tax bill amounts to $2,155, which is below the national median of $2,690. Property taxes in Rougemont are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rougemont'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 Rougemont 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
Rougemont, Orange County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,277
$2,113
Ownwell’s Rougemont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rougemont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rougemont 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 Rougemont, Orange County, North Carolina
Property taxes in Rougemont, 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 Rougemont is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Rougemont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rougemont 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 Rougemont's effective property tax rate to other areas and the national median. For comparison, the zip code 27572 has both the highest and lowest median property tax rate in the region at 0.96%. Understanding how these areas compare with Rougemont provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rougemont Tax Rate
0.96%
Average Orange County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rougemont, Orange County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27572 | 0.60% | 0.94% | 0.96% | 0.99% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Rougemont, Orange County, North Carolina
In Rougemont, 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 Orange 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. 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 Rougemont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Rougemont is 27572, with an amount of $2,155.
Property Tax Assessment Values Across Rougemont, Orange County, North Carolina
Source: Ownwell
$121,250
$275,000
$428,750
Average Rougemont Assessed Value
$237,150
Average Orange County Assessed Value
$295,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rougemont, Orange County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27572 | $98,280 | $164,690 | $237,150 | $352,825 | $511,890 |
Source: Ownwell
Property Tax Bills Across Rougemont, Orange County, North Carolina
In Rougemont, located in Orange County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. Home values are assessed periodically by the county to determine their current market value. For instance, with a median home price of $237,150, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,473, while those in the 75th percentile might see bills as high as $2,983. For those at the 90th percentile, the tax bill can be as substantial as $4,220. These calculations are influenced by several factors including property size, location, and improvements. The local tax rate is applied to the assessed value to determine the final bill. With the national median property tax rate at 0.99%, comparing local rates can help homeowners understand their tax burden better. Higher property taxes can impact homeowners by increasing their overall cost of living, influencing mortgage payments, and affecting affordability.
Average Rougemont Tax Bill
$2,155
Average Orange County Tax Bill
$3,822
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rougemont, Orange County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27572 | $846 | $1,473 | $2,155 | $2,983 | $4,220 |
Source: Ownwell