Rockwell, North Carolina Property Taxes
The median property tax rate in Rockwell, NC, is 0.67%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $180,576 in Rockwell, the typical annual property tax bill amounts to $1,402, well below the national median of $2,690. Property taxes in Rockwell are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Rockwell'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 Rockwell or another part of Rowan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockwell, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,210
$1,123
Ownwell’s Rockwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockwell 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 Rockwell, North Carolina
Property taxes in Rockwell, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockwell is 0.67%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Rockwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockwell 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 Rockwell's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28138 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Rockwell 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 Rockwell Tax Rate
0.67%
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 Rockwell, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28138 | 0.67% | 0.67% | 0.67% | 0.67% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Rockwell, North Carolina
In Rockwell, 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 Rockwell, 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. With a median home price of $180,576, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $816, while the 75th percentile reaches $2,123, and the 90th percentile can be as high as $3,250. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Rockwell, North Carolina
Source: Ownwell
$43,240
$356,407
$669,574
Average Rockwell Assessed Value
$180,576
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 Rockwell, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28138 | $64,412 | $116,866 | $180,576 | $275,770 | $414,389 |
Source: Ownwell
Property Tax Bills Across Rockwell, North Carolina
In Rockwell, property tax bills are calculated based on the assessed value of the property and the local tax rate set by Rowan County. The assessed value is determined by the county assessor, who evaluates the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Rockwell, the median home price is $180,576. Property tax bills can vary significantly, with the 25th percentile tax bill at $816 and the 75th percentile at $2,123, reflecting differences in property values and exemptions. The highest median tax bill in the area is $1,402, found in the 28138 zip code, which aligns with the lowest median tax bill in the same area. Compared to the national median property tax rate of 0.99%, Rockwell's tax rates can have a substantial impact on homeowners. These tax bills contribute to funding essential public services like schools, infrastructure, and emergency services, directly affecting the quality of life in the community.
Average Rockwell Tax Bill
$1,402
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 Rockwell, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28138 | $446 | $816 | $1,402 | $2,123 | $3,250 |
Source: Ownwell