Richfield, Rowan County, North Carolina Property Taxes
Median Richfield, NC effective property tax rate: 0.67%, significantly lower than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Richfield, NC home value: $206,906
Median annual Richfield, NC tax bill: $1,386, $1,014 lower than the national median property tax bill of $2,400.
How are property taxes in Rowan calculated?
Property taxes in Richfield, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Richfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Richfield, Rowan County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.67%
Estimate Property Tax Bill
$1,386
$1,286
Property Tax Rates Across Richfield, Rowan County, North Carolina
Local government entities have the authority to set tax rates, leading to significant variation within a state. The process involves each county estimating its budget requirements for essential services and dividing that by the total assessed value of all taxable property in its area. This calculation determines the property tax rate. While there are votes and legislative measures involved in setting these rates and budgets, this is essentially how the annual process unfolds.
In Richfield, located in Rowan County, North Carolina, the effective property tax rate is notably lower than both the state and national medians. This can provide a financial advantage for property owners in the area, as they may face a lower tax burden compared to other regions. The national median property tax rate stands at 1.02%, with an average bill of $2,400, offering a benchmark for comparison. Understanding these differences is crucial for property owners considering appealing their property tax assessments or seeking exemptions. By staying informed, property owners can make strategic decisions to potentially reduce their tax liabilities.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Richfield Tax Rate
0.67%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Rowan County Tax Rate
0.68%
Median Effective North Carolina Tax Rate
0.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Richfield, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28137 | 0.65% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Richfield, Rowan County, North Carolina
When examining property taxes in Richfield, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Rowan County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Rowan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Richfield. For example, the median home price in Richfield is $206,906, with tax bills ranging significantly across the county. Zip code 28137 has the highest median home price at $206,906.
Property Tax Assessment Values Across Richfield, Rowan County, North Carolina
Source: Ownwell
$135,470
$402,522
$669,574
Median Richfield Market Value
$206,906
Median Rowan County Market Value
$187,326
Median North Carolina Market Value
$197,136
Median United States Market Value
$235,294
Property Tax Assessment Values Across Richfield, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28137 | $61,951 | $122,786 | $206,906 | $324,738 | $459,846 |
Source: Ownwell
Property Tax Bills Across Richfield, Rowan County, North Carolina
Median Richfield Tax Bill
$1,386
Median Rowan County Tax Bill
$1,628
Median North Carolina Tax Bill
$1,615
Median United States Tax Bill
$2,400
Property Tax Bills Across Richfield, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28137 | $410 | $812 | $1,386 | $2,175 | $3,050 |
Source: Ownwell