Rockingham, North Carolina Property Taxes
The median property tax rate in Rockingham, NC is 1.05%, which is considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Rockingham, the typical annual property tax bill reaches $693, which is significantly lower than the national median of $2,690. Property taxes in Rockingham are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rockingham'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 Rockingham 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
Rockingham, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$692
Ownwell’s Rockingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockingham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockingham 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 Rockingham, North Carolina
Property taxes in Rockingham, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockingham is 1.05%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Rockingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockingham 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 Rockingham's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28379 zip code has the highest median property tax rate of 1.05%, while the same 28379 zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Rockingham provides valuable insights into the varying tax landscape across Richmond County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockingham Tax Rate
1.05%
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 Rockingham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28379 | 0.83% | 0.93% | 1.05% | 1.24% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Rockingham, North Carolina
In Rockingham, 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 Richmond County Assessor 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 Rockingham, 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. The median home price in Rockingham is $65,873, with annual tax bills ranging from $418 at the 25th percentile to $1,618 at the 90th percentile. The zip code 28379 has the highest and lowest median tax bill, both at $693. 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 Rockingham, North Carolina
Source: Ownwell
$34,878
$63,151
$91,423
Average Rockingham Assessed Value
$65,873
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 Rockingham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28379 | $14,000 | $34,399 | $65,873 | $105,055 | $170,258 |
Source: Ownwell
Property Tax Bills Across Rockingham, North Carolina
Property tax bills in Rockingham, Richmond County, NC, are calculated based on the assessed value of a property, which is determined by the county assessor. The median home price in Rockingham is $65,873, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Rockingham can expect a range of tax bills, with the 25th percentile paying around $418 annually, while those at the 75th and 90th percentiles pay approximately $1,058 and $1,618, respectively. The highest median tax bill in the area is $693, which is consistent across the 28379 zip code. Compared to the national median property tax rate of 0.99%, Rockingham's property tax bills can be relatively manageable for homeowners, but they still represent a significant consideration in overall homeownership costs. Understanding these factors can help homeowners better plan and budget for their annual property tax obligations.
Average Rockingham Tax Bill
$693
Average Richmond County Tax Bill
$644
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockingham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28379 | $216 | $418 | $693 | $1,058 | $1,618 |
Source: Ownwell