State Road, North Carolina Property Taxes
The median property tax rate in STATE ROAD, NC is 0.55%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in STATE ROAD at $138,735, the typical annual property tax bill reaches $635, which is significantly below the national median of $2,690. Property taxes in STATE ROAD 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 STATE ROAD'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 STATE ROAD or another part of Surry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
State Road, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$763
Ownwell’s STATE ROAD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STATE ROAD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STATE ROAD 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 State Road, North Carolina
Property taxes in STATE ROAD, 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 STATE ROAD is 0.55%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within STATE ROAD set these rates annually, and they can vary significantly across different neighborhoods. Each year, STATE ROAD 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 STATE ROAD's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28676 has both the highest and lowest median property tax rate of 0.55%. Understanding how these areas compare with STATE ROAD provides valuable insights into the varying tax landscape across Surry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average State Road Tax Rate
0.55%
Average Surry County Tax Rate
0.55%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across State Road, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28676 | 0.12% | 0.50% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across State Road, North Carolina
In State Road, 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 Surry 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. Assessment notices in State Road 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. For example, the median home price in State Road is $138,735, with tax bills ranging from $364 at the 25th percentile to $1,697 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across State Road, North Carolina
Source: Ownwell
$79,385
$110,968
$142,550
Average State Road Assessed Value
$138,735
Average Surry County Assessed Value
$114,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across State Road, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28676 | $64,164 | $89,120 | $138,735 | $232,195 | $347,235 |
Source: Ownwell
Property Tax Bills Across State Road, North Carolina
In STATE ROAD, Surry County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in this region, several factors influence the assessed value, including the home's size, age, location, and market conditions. The median home price in STATE ROAD is $138,735, and property tax bills can vary significantly. For instance, at the 25th percentile, the tax bill is around $364, while at the 75th percentile, it rises to approximately $1,099. At the 90th percentile, homeowners may see tax bills as high as $1,697. These property taxes directly impact homeowners by affecting their annual expenses and potentially influencing their decisions regarding home improvements or selling their property. Compared to the national median property tax rate of 0.99%, the tax rates in STATE ROAD can be seen as relatively moderate, providing a balanced environment for property owners.
Average State Road Tax Bill
$635
Average Surry County Tax Bill
$544
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across State Road, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28676 | $159 | $364 | $635 | $1,099 | $1,697 |
Source: Ownwell