Faith, Rowan County, North Carolina Property Taxes
Median FAITH, NC effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but higher than the North Carolina state median of 0.82%.
Median FAITH, NC home value: $253,184
Median annual FAITH, NC tax bill: $2,507, $107 higher than the national median property tax bill of $2,400.
How are property taxes in Rowan calculated?
Property taxes in FAITH, 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 FAITH’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in FAITH, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Faith, Rowan County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.99%
Estimate Property Tax Bill
$2,635
$2,445
Property Tax Rates Across Faith, Rowan County, North Carolina
Local government entities determine tax rates, which can differ significantly within a state. Each county calculates its required budget to provide essential services and divides that amount by the total value of all taxable property in its jurisdiction. This process results in the property tax rate. While votes and laws play a role in setting these rates, this is the basic annual procedure.
In Faith, located in Rowan County, the effective property tax rate reflects the county's budgetary needs and property values. Compared to the state median property tax rate of 0.83%, Faith's rate aligns with the state average, showcasing consistency in property tax assessments within North Carolina. This is notably lower than the national median property tax rate of 1.02%, indicating that property owners in Faith might experience a lighter tax burden compared to the national average.
By understanding these rates, property owners can better anticipate their annual tax obligations and see how their area compares to others within the state and across the country. This knowledge is crucial for making informed decisions about property investments and financial planning.
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 Faith Tax Rate
0.99%
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
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Faith, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28041 | 0.67% | 0.67% | 0.99% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Faith, Rowan County, North Carolina
When examining property taxes in Faith, North Carolina, 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 Tax Assessor 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.
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 Faith. For example, the median home price in Faith is $253,184, with tax bills ranging significantly across the county. Zip code 28041 has the highest median home price at $253,184.
Property Tax Assessment Values Across Faith, Rowan County, North Carolina
Source: Ownwell
$133,810
$404,798
$675,786
Median Faith Market Value
$266,113
Median Rowan County Market Value
$188,788
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Faith, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28041 | $159,442 | $188,098 | $266,113 | $373,198 | $390,282 |
Source: Ownwell
Property Tax Bills Across Faith, Rowan County, North Carolina
Median Faith Tax Bill
$2,635
Median Rowan County Tax Bill
$1,644
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Faith, Rowan County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28041 | $1,302 | $1,523 | $2,635 | $3,596 | $3,769 |
Source: Ownwell