Example of Rutherford County Property Tax Calculation
Rutherford County calculates property tax based on the assessed value of the property. The assessed value is determined by the county assessor's office and is typically a percentage of the property's fair market value. For example, if a property has a fair market value of $200,000 and the assessed value is 80%, the assessed value would be $160,000.
Once the assessed value has been determined, the county applies a tax rate to that value to calculate the annual property tax bill. For instance, if the tax rate is $1 per $100 of assessed value, the property tax bill would be $1,600 per year for the property with an assessed value of $160,000.
It is important to note that property tax rates can vary between different areas within Rutherford County, and property owners may also be subject to additional taxes, such as school district taxes. Property owners can typically find information about their specific property tax bill by contacting the Rutherford County tax assessor's office.
If you want appeal your property tax assessment - contact your local tax assessor.
Rutherford County Property Tax Rates
The Rutherford County Property Tax rates for the fiscal year 2021-2022 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $2.0625 |
| Highway/Public Works | $0.2067 |
| Solid Waste | $0.4919 |
| Schools | $2.7561 |
| General Purpose Schools | $1.4461 |
| Rural School | $0.3100 |
| Central Cafeteria | $0.0850 |
| Debt Service | $0.6664 |
Please note that these rates are subject to change and may vary depending on the property location and classification. It is recommended to consult with a tax professional for specific information regarding property taxes in Rutherford County.
Who sets property tax rates in Rutherford County ?
Who sets property tax rates in Rutherford County?
The Rutherford County Board of Commissioners is responsible for setting property tax rates in Rutherford County, Tennessee. The board is composed of 21 members who are elected by citizens to serve four-year terms. Property tax rates are determined on an annual basis and are based on the county's budget needs.
When are property tax rates set in Rutherford County?
Property tax rates are typically set by the Rutherford County Board of Commissioners in the early summer, with the new rates taking effect on July 1st of each year. Property owners are typically notified of their new property tax rates in the late summer or early fall, and tax bills are typically due by the end of the year.
How are property tax rates determined in Rutherford County?
The property tax rates in Rutherford County are determined based on the county's budget needs for the coming year. The budget is typically drafted by the county mayor and his/her staff, and then presented to the board of commissioners for review and approval. The budget includes expenditures for county services and programs such as schools, roads, public safety, and social services. Once the budget is approved, the board of commissioners sets the property tax rates necessary to generate the revenue needed to fund the budget. The property tax rate is typically expressed in terms of cents per $100 of assessed property value.
Homestead exemptions in Rutherford County ?
To ensure that homeowners in Rutherford County, North Carolina are aware of all the Homestead exemptions and deductions available to them, here is a table detailing the various options:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exclusion | Homeowners who are 65 years or older, or disabled | Up to $25,000 | Excludes a portion of the appraised value of the property |
| Disabled Veteran Exclusion | Veterans with service-related disabilities | Up to $45,000 | Excludes a portion of the appraised value of the property |
| Circuit Breaker Tax Deferment | Homeowners who are 65 years or older, or disabled, and have an income under $31,500 | Limits tax liability to a percentage of income | Taxes are deferred until property is sold or ownership transfers |
| Property Tax Homestead Circuit Breaker | Homeowners who are 65 years or older, or disabled, with an income under $31,500 | Limits property tax liability | Taxes are deferred until property is sold or ownership transfers |
| Disabled Veteran Property Tax Relief | Veterans with service-related disabilities | Up to $45,000 | Qualification requirements vary |
These exemptions and deductions can significantly reduce the tax burden for homeowners in Rutherford County. Homeowners should consult with their local taxing authority to determine which options are available to them and what documentation is required to apply for them.
When is Rutherford County Property Tax due ?
Rutherford County Property Tax typically falls due on January 1st of each year. However, taxpayers have until the end of February to pay their property taxes without penalty. The county does offer several payment methods to make it easier for taxpayers to make their payments on time. Property owners can pay their taxes by mail, in person, online, or through an automated phone service.
Below is a table outlining the different payment options and their corresponding instructions:
| Payment Method | Instructions |
|---|---|
| Mail your check or money order (payable to Rutherford County) to the following address: 289 N. Main St., Rutherfordton, NC 28139 | |
| In Person | Pay in person at the Rutherford County Tax Office located at 289 N. Main St., Rutherfordton, NC 28139 during regular business hours: Monday-Friday from 8:00 AM-5:00 PM |
| Online | Pay online by visiting the Rutherford County website and following the prompts |
| Automated Phone Service | Pay through an automated phone service by calling (828) 287-6140 and following the prompts |
It is important to note that if property taxes are not paid on time, penalties and interest will accrue until the taxes are paid in full. Therefore, it is highly recommended that taxpayers pay their property taxes before the end of February to avoid additional fees.
If you have more questions - contact your local tax collector.
How is Rutherford County Property Tax penalty calculated ?
Rutherford County calculates property tax penalties based on the amount of taxes owed and the length of time they remain unpaid. The penalty is a percentage of the overdue taxes and increases with each month of delinquency. Here is an example to help illustrate:
Let's say John owns a home in Rutherford County and his property tax bill for the year is $2,000. The due date for payment is February 28th, but John forgets to pay on time.
- March 1st: John's payment is now one day late. The penalty is 1% of the unpaid taxes, or $20.
- April 1st: John's payment is now one month late. The penalty increases to 2%, or $40.
- May 1st: John's payment is two months late. The penalty is now 3%, or $60.
The penalty continues to increase each month until the taxes are paid in full. After a certain amount of time, the county may also add interest charges to the amount owed.
It's important to note that Rutherford County offers a discount for early payment of property taxes. If John had paid his full property tax bill by January 31st, he would have received a 2% discount, or $40 off his total bill.
Here is a table summarizing the penalty rates for delinquent property taxes in Rutherford County:
| Months Late | Penalty Rate |
|---|---|
| 1 | 1% |
| 2 | 2% |
| 3 | 3% |
| 4 | 4% |
| 5 | 5% |
| 6 | 6% |
| 7 | 7% |
| 8 | 8% |
| 9 | 9% |
| 10+ | 10% |
In summary, property tax penalties in Rutherford County are calculated based on the amount owed and the length of time the taxes remain unpaid. It's important to pay on time to avoid these penalties and take advantage of early payment discounts.
We recommend contacting the Rutherford County Tax Office or a local tax professional for the most up-to-date and accurate information.