Boca Raton, North Carolina Property Taxes
The median property tax rate in Boca Raton, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Boca Raton at $382,600, the typical annual property tax bill reaches $3,012, surpassing the national median of $2,690. Property taxes in Boca Raton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Boca Raton'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 Boca Raton 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
Boca Raton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,530
Ownwell’s Boca Raton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boca Raton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boca Raton 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 Boca Raton, North Carolina
Property taxes in Boca Raton, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boca Raton is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Boca Raton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boca Raton 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 Boca Raton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 33496 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these areas compare with Boca Raton provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boca Raton Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boca Raton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33432 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33486 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33487 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 33496 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Boca Raton, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Boca Raton, NC. 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 Avery 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 Boca Raton, 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. The median home price in Boca Raton is $382,600, with tax bills ranging significantly across different zip codes. For instance, the highest median tax bill is $5,119 in the 33432 zip code, while the lowest is $800 in the 33486 zip code. 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 Boca Raton, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Boca Raton Assessed Value
$382,600
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boca Raton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33432 | $1,279,800 | $1,279,800 | $1,279,800 | $1,279,800 | $1,279,800 |
| 33486 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 |
| 33487 | $308,260 | $320,650 | $341,300 | $361,950 | $374,340 |
| 33496 | $1,123,500 | $1,123,500 | $1,123,500 | $1,123,500 | $1,123,500 |
Source: Ownwell
Property Tax Bills Across Boca Raton, North Carolina
In Boca Raton, Avery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $382,600, homeowners can expect varying tax bills depending on their property's assessed value and location within the city. The 25th percentile tax bill is $1,348, while the 75th percentile reaches $4,650, and the 90th percentile peaks at $4,932. The highest median tax bill in the area is $5,119 in the 33432 zip code, whereas the lowest median tax bill is $800 in the 33486 zip code. These variations illustrate how property taxes can significantly impact homeowners, with higher-valued properties incurring higher tax bills. Understanding these factors helps homeowners anticipate their annual financial obligations and budget accordingly.
Average Boca Raton Tax Bill
$3,012
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Boca Raton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33432 | $5,119 | $5,119 | $5,119 | $5,119 | $5,119 |
| 33486 | $800 | $800 | $800 | $800 | $800 |
| 33487 | $1,530 | $1,530 | $1,530 | $1,530 | $1,530 |
| 33496 | $4,494 | $4,494 | $4,494 | $4,494 | $4,494 |
Source: Ownwell