Browns Summit, North Carolina Property Taxes
The median property tax rate in Browns Summit, NC is 0.81%, slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Browns Summit at $98,058, the typical annual property tax bill is $789, which is notably lower than the national median of $2,690. Property taxes in Browns Summit are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Browns Summit'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 Browns Summit or another part of Rockingham County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Browns Summit, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$794
Ownwell’s Browns Summit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Browns Summit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Browns Summit 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 Browns Summit, North Carolina
Property taxes in Browns Summit, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Browns Summit is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Browns Summit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Browns Summit 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 Browns Summit's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27214 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Browns Summit provides valuable insights into the varying tax landscape across Rockingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Browns Summit Tax Rate
0.81%
Average Rockingham County Tax Rate
0.81%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Browns Summit, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27214 | 0.79% | 0.80% | 0.80% | 0.81% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Browns Summit, North Carolina
In Browns Summit, 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 Rockingham 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 Browns Summit, 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 Browns Summit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27214, with a median bill of $789.
Property Tax Assessment Values Across Browns Summit, North Carolina
Source: Ownwell
$5,631
$70,151
$134,671
Average Browns Summit Assessed Value
$98,058
Average Rockingham County Assessed Value
$76,220
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Browns Summit, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27214 | $23,935 | $44,000 | $98,058 | $180,747 | $273,211 |
Source: Ownwell
Property Tax Bills Across Browns Summit, North Carolina
In Browns Summit, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $98,058, homeowners in Browns Summit can expect varying tax bills. The 25th percentile tax bill is around $350, while the 75th percentile reaches up to $1,446. At the 90th percentile, tax bills can be as high as $2,183. Several factors influence these tax bills, including property location, home size, and market conditions. In Rockingham County, the median tax bill is $789, which is lower than the national median property tax rate of 0.99%, making it relatively affordable for homeowners. Understanding these calculations helps homeowners budget effectively and anticipate their annual property tax obligations, ensuring they can plan for these expenses without unexpected financial strain.
Average Browns Summit Tax Bill
$789
Average Rockingham County Tax Bill
$704
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Browns Summit, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27214 | $189 | $350 | $789 | $1,446 | $2,183 |
Source: Ownwell