Richmond County, North Carolina Property Taxes
The median property tax rate in Richmond County is 1.05%, which is higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $60,261 in Richmond County, the typical annual property tax bill is around $644, compared to the national median of $2,690. Property taxes in Richmond County are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Richmond County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Rockingham or another part of Richmond County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Richmond County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$633
$587
Ownwell’s Richmond County Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Richmond County with just two simple data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Richmond County to provide an accurate estimate of your property tax bill. This tool offers valuable insight into your potential tax liabilities, helping you make informed financial decisions. For more detailed trends and information at the city level, scroll down to navigate to a more localized informational page. Your property’s assessed value is the value assigned by the county for tax calculations and includes any exemptions you may qualify for.
Property Tax Rates Across Richmond County, North Carolina
Property taxes in Richmond County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Richmond County is 1.05%, which is higher than both the North Carolina state median of 0.85% and the U.S. national median of 0.99%. Local government entities within Richmond County set these rates annually, and they can vary significantly between different areas within the county. Each year, Richmond County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Richmond County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Cordova has one of the higher property tax rates in North Carolina at 1.23%, while the city of Jackson Springs boasts one of the lowest at 0.93%. Analyzing how Richmond County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Richmond County Tax Rate
1.05%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richmond County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Candor | 0.60% | 0.93% | 1.09% | 1.35% | 1.74% |
| Cordova | 0.57% | 0.93% | 1.23% | 1.41% | 1.88% |
| Ellerbe | 0.64% | 0.91% | 1.03% | 1.20% | 1.52% |
| Hamlet | 0.83% | 0.92% | 1.04% | 1.24% | 1.57% |
| Hoffman | 0.83% | 0.85% | 1.05% | 1.32% | 1.78% |
| Jackson Springs | 0.56% | 0.83% | 0.93% | 1.05% | 1.16% |
| Laurel Hill | 0.84% | 0.97% | 1.16% | 1.46% | 1.81% |
| Marston | 0.78% | 0.92% | 1.10% | 1.37% | 1.72% |
| Mount Gilead | 0.56% | 0.83% | 0.96% | 1.13% | 1.41% |
| Norman | 0.78% | 0.95% | 1.04% | 1.20% | 1.37% |
| Rockingham | 0.83% | 0.93% | 1.05% | 1.24% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Richmond County, North Carolina
In Richmond County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Richmond County Appraisal District. The assessed value, however, 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 in Richmond County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the city with the highest median tax bill in Richmond County is Jackson Springs at $856, while Cordova has the lowest at $405. Being aware of these valuation processes in Richmond County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Richmond County, North Carolina
Source: Ownwell
$34,878
$63,151
$91,423
Average Richmond County Assessed Value
$60,261
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richmond County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Candor | $8,463 | $23,350 | $47,509 | $79,984 | $130,634 |
| Cordova | $3,469 | $13,119 | $34,878 | $45,564 | $61,601 |
| Ellerbe | $9,753 | $32,942 | $64,451 | $108,440 | $168,997 |
| Hamlet | $6,598 | $26,732 | $53,067 | $83,198 | $121,877 |
| Hoffman | $6,963 | $11,200 | $44,434 | $71,638 | $122,123 |
| Jackson Springs | $32,610 | $62,682 | $91,423 | $155,366 | $236,584 |
| Laurel Hill | $9,715 | $25,833 | $56,150 | $89,492 | $146,860 |
| Marston | $8,360 | $32,600 | $59,522 | $103,409 | $152,272 |
| Mount Gilead | $10,067 | $34,418 | $62,237 | $103,510 | $261,644 |
| Norman | $18,214 | $44,318 | $49,141 | $63,015 | $78,241 |
| Rockingham | $14,000 | $34,399 | $65,873 | $105,055 | $170,258 |
Source: Ownwell
Property Tax Bills Across Richmond County, North Carolina
In Richmond County, NC, property tax bills are calculated based on the assessed value of a home, which reflects its market value as determined by the county's tax assessor. The median home price in the county is $60,261. Homeowners can expect their tax bill to vary significantly depending on their property's assessed value and the applicable tax rate. For instance, the 25th percentile tax bill is $388, while the 75th percentile reaches $974, and the 90th percentile peaks at $1,482. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in the county is found in Jackson Springs at $856, whereas Cordova has the lowest at $405. These property taxes directly impact homeowners by influencing their annual expenses and potentially affecting their financial planning and homeownership costs. Compared to the national median property tax rate of 0.99%, Richmond County offers a range of tax bills that reflect its diverse property values.
Average Richmond County Tax Bill
$644
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Richmond County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Candor | $94 | $326 | $489 | $774 | $1,381 |
| Cordova | $39 | $154 | $405 | $587 | $724 |
| Ellerbe | $126 | $390 | $659 | $1,037 | $1,560 |
| Hamlet | $86 | $345 | $587 | $832 | $1,178 |
| Hoffman | $71 | $265 | $543 | $766 | $1,228 |
| Jackson Springs | $351 | $478 | $856 | $1,287 | $1,688 |
| Laurel Hill | $229 | $459 | $673 | $996 | $1,208 |
| Marston | $158 | $430 | $679 | $1,097 | $1,516 |
| Mount Gilead | $116 | $338 | $589 | $893 | $1,760 |
| Norman | $159 | $372 | $541 | $730 | $793 |
| Rockingham | $216 | $418 | $693 | $1,058 | $1,618 |
Source: Ownwell