Rex, North Carolina Property Taxes
The median property tax rate in REX, NC is 0.90%, 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 $80,400 in REX, the typical annual property tax bill is $710, which is significantly below the national median of $2,690. Property taxes in REX are calculated based on the tax assessed value, often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding REX's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of REX or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rex, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$724
$671
Ownwell’s REX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in REX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in REX 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 Rex, North Carolina
Property taxes in REX, 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 REX is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within REX set these rates annually, and they can vary significantly across different neighborhoods. Each year, REX 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 REX's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28378 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with REX 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 Rex Tax Rate
0.90%
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 Rex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28378 | 0.87% | 0.88% | 0.90% | 0.91% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Rex, North Carolina
In REX, 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 REX, 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 REX helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both recorded at $710 in the zip code 28378.
Average Rex Assessed Value
$80,400
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 Rex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28378 | $48,160 | $60,250 | $80,400 | $100,550 | $112,640 |
Source: Ownwell
Property Tax Bills Across Rex, North Carolina
In REX, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county and reflects the market value of the property. For example, with a median home price of $80,400, homeowners can expect their property tax bills to vary. The 25th percentile tax bill is around $539, while the 75th percentile reaches $880. The 90th percentile even goes up to $982. These figures illustrate the range homeowners might encounter based on their property's assessed value and specific circumstances. Factors influencing the tax bill include property size, location, and any applicable exemptions. The median property tax rate in REX is competitive when compared to the national median of 0.99%. Understanding these elements helps homeowners anticipate their annual tax obligations, ensuring they are prepared for the financial impact. By staying informed about how property taxes are calculated, homeowners can better manage their budgets and potentially seek exemptions or appeals if necessary.
Average Rex Tax Bill
$710
Average Robeson County Tax Bill
$623
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28378 | $437 | $539 | $710 | $880 | $982 |
Source: Ownwell