Maywood, North Carolina Property Taxes
The median property tax rate in Maywood, NC is 1.70%, 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 Maywood, the typical annual property tax bill reaches $1,306, exceeding the national median of $2,690. Property taxes in Maywood 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 Maywood'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 Maywood 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
Maywood, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$1,303
$1,210
Ownwell’s Maywood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maywood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maywood 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 Maywood, North Carolina
Property taxes in Maywood, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maywood is 1.70%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Maywood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maywood 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 Maywood's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 60153 has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Maywood 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 Maywood Tax Rate
1.70%
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 Maywood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60153 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Maywood, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Maywood, North Carolina. 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 Maywood, 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 Maywood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Maywood are both $1306, found in the zip code 60153.
Average Maywood Assessed Value
$76,673
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 Maywood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60153 | $76,673 | $76,673 | $76,673 | $76,673 | $76,673 |
Source: Ownwell
Property Tax Bills Across Maywood, North Carolina
In Maywood, Rockingham County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the property's market value. Homeowners in Maywood face a median property tax bill of $1,306, which is calculated by multiplying the assessed value by the local tax rate. This figure is consistent across various percentiles, indicating a stable tax environment. Factors influencing the tax bill include property size, location, and any improvements made to the home. For instance, renovations or additions can increase the property's assessed value, leading to a higher tax bill. Compared to the national median property tax rate of 0.99%, Maywood's tax rate is relatively moderate. This stability in property tax bills helps homeowners plan their finances more effectively, ensuring they are not caught off guard by fluctuating tax amounts. Overall, understanding these factors can help homeowners anticipate their property tax obligations and manage their budgets accordingly.
Average Maywood Tax Bill
$1,306
Average Rockingham County Tax Bill
$704
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Maywood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60153 | $1,306 | $1,306 | $1,306 | $1,306 | $1,306 |
Source: Ownwell