Rolesville, North Carolina Property Taxes
The median property tax rate in Rolesville, NC is 1.21%, 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 Rolesville at $331,115, the typical annual property tax bill reaches $3,880, exceeding the national median of $2,690. Property taxes in Rolesville 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 Rolesville'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 Rolesville 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
Rolesville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$4,006
$3,718
Ownwell’s Rolesville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential property owners looking to estimate their annual property taxes in Rolesville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Rolesville to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you plan your finances effectively. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property's assessed value, determined by the county, is crucial for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rolesville, North Carolina
Property taxes in Rolesville, North Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Rolesville is 1.21%, higher than the U.S. national median of 0.99%. Local government entities within Rolesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rolesville 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 Rolesville's effective property tax rate to other areas in Wake County and the national median. For comparison, the zip code 27571 has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these areas compare with Rolesville provides valuable insights into the varying tax landscape across Wake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rolesville Tax Rate
1.21%
Average Wake County Tax Rate
1.10%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rolesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27571 | 1.12% | 1.19% | 1.21% | 1.23% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Rolesville, North Carolina
In Rolesville, 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 Wake 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 Rolesville, 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 Rolesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 27571, with a median tax bill of $3,880.
Property Tax Assessment Values Across Rolesville, North Carolina
Source: Ownwell
$174,058
$394,571
$615,084
Average Rolesville Assessed Value
$331,115
Average Wake County Assessed Value
$302,078
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rolesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27571 | $192,934 | $258,638 | $331,115 | $397,569 | $455,547 |
Source: Ownwell
Property Tax Bills Across Rolesville, North Carolina
In Rolesville, property tax bills are calculated based on the assessed value of a home, which is determined by the Wake County tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $331,115, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $3,089, while those in the 75th percentile might see bills closer to $4,671. At the 90th percentile, tax bills can reach up to $5,313. Factors influencing the tax bill include the property's assessed value, any applicable exemptions, and the local tax rate. This system ensures that property taxes are proportional to property values, impacting homeowners by requiring higher payments for more valuable properties. Compared to the national median property tax rate of 0.99%, the rates in Rolesville reflect the region's specific economic and property market conditions. This approach helps fund local services and infrastructure, directly affecting the community's quality of life.
Average Rolesville Tax Bill
$3,880
Average Wake County Tax Bill
$3,098
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Rolesville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27571 | $2,353 | $3,089 | $3,880 | $4,671 | $5,313 |
Source: Ownwell