Red Springs, North Carolina Property Taxes
The median property tax rate in Red Springs, NC is 1.41%, 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 Red Springs at $62,150, the typical annual property tax bill reaches $695, which is still below the national median of $2,690. Property taxes in Red Springs 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 Red Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Red Springs 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
Red Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$876
Ownwell’s RED SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RED SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RED SPRINGS 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 Red Springs, North Carolina
Property taxes in Red Springs, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Springs is 1.41%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Red Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Springs 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 Red Springs' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28377 has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Red Springs provides valuable insights into the varying tax landscape across Robeson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Red Springs Tax Rate
1.41%
Average Robeson County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28377 | 0.92% | 0.92% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Red Springs, North Carolina
In Red Springs, 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 Robeson 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 Red Springs, 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 Red Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $695 in the 28377 zip code, which is also the lowest median tax bill, reflecting a relatively consistent tax burden across the region.
Property Tax Assessment Values Across Red Springs, North Carolina
Source: Ownwell
$59,500
$102,600
$145,700
Average Red Springs Assessed Value
$62,150
Average Robeson County Assessed Value
$69,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Red Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28377 | $26,510 | $38,625 | $62,150 | $87,900 | $138,290 |
Source: Ownwell
Property Tax Bills Across Red Springs, North Carolina
In Red Springs, located in Robeson County, NC, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price in Red Springs is $62,150. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $441 and the 75th percentile tax bill at $1,083. The 90th percentile tax bill reaches up to $1,613. The local tax rate is applied to the assessed value of the property to calculate the tax bill. Compared to the national median property tax rate of 0.99%, Red Springs offers relatively affordable property taxes. This can be a significant factor for homeowners, influencing their overall cost of living and financial planning. For homeowners in the 28377 zip code, the median tax bill is consistently $695, highlighting a stable tax environment within this area. Understanding these factors can help current and prospective homeowners in Red Springs better manage their property expenses.
Average Red Springs Tax Bill
$695
Average Robeson County Tax Bill
$623
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28377 | $302 | $441 | $695 | $1,083 | $1,613 |
Source: Ownwell