Davidson, Rowan County, North Carolina Property Taxes
The median property tax rate in Davidson, NC is 0.68%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Davidson at $669,574, the typical annual property tax bill amounts to $4,536, which is significantly higher than the national median of $2,690. Property taxes in Davidson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Davidson'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 Davidson 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
Davidson, Rowan County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$4,553
$4,225
Ownwell’s Davidson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davidson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davidson 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 Davidson, Rowan County, North Carolina
Property taxes in Davidson, 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 Davidson is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Davidson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davidson 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 Davidson's effective property tax rate to other areas in North Carolina and the national median. For comparison, the ZIP code 28036 has the highest median property tax rate of 0.68%, while the same ZIP code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Davidson provides valuable insights into the varying tax landscape across Rowan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davidson Tax Rate
0.68%
Average Rowan County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davidson, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Davidson, Rowan County, North Carolina
In Davidson, 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 Rowan 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 Davidson, 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 Davidson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Davidson is $4536 in zip code 28036, while the lowest median tax bill is also $4536 in the same zip code.
Property Tax Assessment Values Across Davidson, Rowan County, North Carolina
Source: Ownwell
$135,470
$402,522
$669,574
Average Davidson Assessed Value
$669,574
Average Rowan County Assessed Value
$187,326
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davidson, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | $504,839 | $587,318 | $669,574 | $716,506 | $763,427 |
Source: Ownwell
Property Tax Bills Across Davidson, Rowan County, North Carolina
In Davidson, Rowan County, NC, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the county assessor and typically reflects a percentage of the property's market value. For homeowners in Davidson, the median home price stands at $669,574. Given the local tax rates, homeowners can expect to pay varying amounts based on their property's assessed value. For instance, the 25th percentile of tax bills in Davidson is around $3,979, while those in the 75th percentile see bills closer to $4,854. At the 90th percentile, tax bills can reach up to $5,172. The highest median tax bill recorded in the area is $4,536, which aligns with the national median property tax rate of 0.99%. These property taxes significantly impact homeowners by influencing their overall housing costs and potentially affecting their long-term financial planning. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Davidson Tax Bill
$4,536
Average Rowan County Tax Bill
$1,628
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Davidson, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28036 | $3,420 | $3,979 | $4,536 | $4,854 | $5,172 |
Source: Ownwell