27203 Property Tax Rate

Property owners in ZIP code 27203 (Asheboro, North Carolina) pay a median of $1,444/year in property taxes on homes valued at $141,100. This translates to an effective tax rate of 1.02%, which is 43% above the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 27203 is approximately $120, which factors into escrow payments on mortgages. This ZIP code is located within Randolph County.

Compared to similar ZIP codes in North Carolina, 27203 has lower property taxes. ZIP codes with similar effective rates include 27849 (1.02%) and 27265 (1.02%).

In Asheboro, property taxes represent approximately 3.0% of the median household income of $47,506, providing context for the relative tax burden on homeowners in this area.

North Carolina reassesses property at market value upon sale — Randolph County will appraise your property at fair market value, setting a new assessed value with no statewide cap on reassessment increases. Randolph County provides homestead exemptions and senior (65+)/disabled veteran exemptions; file your application with the Randolph County Tax Assessor within 30 days of closing to reduce your taxable assessed value and lower your annual taxes. Obtain written confirmation of your exemption status and effective date, and verify it appears on your first property tax bill to avoid overpayment.