Boston, North Carolina Property Taxes
The median property tax rate in Boston, 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 Boston, the typical annual property tax bill reaches $68, well below the national median of $2,690. Property taxes in Boston 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 Boston'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 Boston 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
Boston, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$68
Ownwell’s Boston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boston 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 Boston, North Carolina
Property taxes in Boston, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Boston is 0.40%, which is lower than both the North Carolina state median and significantly below the U.S. national median of 0.99%. Local government entities within Boston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boston 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 Boston's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in North Carolina is found in Avery County, with a rate of 0.40%, while other counties may have different rates. Understanding how these cities compare with Boston 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 Boston 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 Boston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02116 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Boston, North Carolina
In Boston, 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 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 Boston, 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 Boston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code with the highest tax bill stands at $68, while the lowest is also $68, reflecting a consistent tax structure across the area.
Property Tax Assessment Values Across Boston, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Boston Assessed Value
$17,000
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 Boston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02116 | $17,000 | $17,000 | $17,000 | $17,000 | $17,000 |
Source: Ownwell
Property Tax Bills Across Boston, North Carolina
In Boston, Avery County, NC, property tax bills are calculated based on the assessed value of a property. The local government assesses properties to determine their market value, which serves as the basis for taxation. The median home price in this area is $17,000, significantly lower than the national median property tax rate of 0.99%. Homeowners in Boston face property tax bills that can vary depending on the assessed value and the specific tax rate applied. For example, tax bills at the 25th, 75th, and 90th percentiles are all $68, indicating a relatively uniform tax burden across different property values in this region. Factors such as property size, location, and improvements can influence the assessed value, subsequently affecting the tax bill. For homeowners, understanding these factors is crucial as they directly impact annual financial obligations. Lower property values in Boston can mean more manageable tax bills, providing some relief compared to higher-tax regions.
Average Boston Tax Bill
$68
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Boston, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 02116 | $68 | $68 | $68 | $68 | $68 |
Source: Ownwell