Climax, North Carolina Property Taxes
The median property tax rate in Climax, NC is 0.68%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $186,310 in Climax, the typical annual property tax bill amounts to $1,187, falling well below the national median of $2,690. Property taxes in Climax 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. Gaining a thorough understanding of Climax's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Climax or another part of Randolph County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Climax, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,267
$1,176
Ownwell’s Climax Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Climax with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Climax 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 Climax, North Carolina
Property taxes in Climax, 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 Climax is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Climax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Climax 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 Climax's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27233 has both the highest and the lowest median property tax rate of 0.68%. Understanding how these areas compare with Climax provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Climax Tax Rate
0.68%
Average Randolph County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Climax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27233 | 0.49% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Climax, North Carolina
In Climax, 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 Randolph 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 Climax, 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 Climax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Climax is $1,187 in the 27233 zip code, while the lowest median tax bill is also $1,187 in the same zip code.
Average Climax Assessed Value
$186,310
Average Randolph County Assessed Value
$167,245
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Climax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27233 | $42,596 | $114,398 | $186,310 | $281,750 | $438,602 |
Source: Ownwell
Property Tax Bills Across Climax, North Carolina
In Climax, Randolph County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Climax is $186,310. The tax bill is then derived by applying the local tax rate to this assessed value. For example, if the local tax rate aligns closely with the national median of 0.99%, a homeowner with a median-valued home might expect a tax bill around $1,843 annually. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Climax, the 25th percentile tax bill is $725, while the 75th percentile tax bill is $1,825, showing a range that can significantly impact homeowners' finances. The highest median tax bill in the area is $1,187, as seen in zip code 27233. Understanding these variables helps homeowners anticipate their annual property tax expenses and plan their budgets accordingly.
Average Climax Tax Bill
$1,187
Average Randolph County Tax Bill
$1,305
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Climax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27233 | $269 | $725 | $1,187 | $1,825 | $2,640 |
Source: Ownwell