Bolivia, North Carolina Property Taxes
The median property tax rate in Bolivia, NC is 0.42%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $277,240 in Bolivia, the typical annual property tax bill comes to $935, which is well below the national median of $2,690. Property taxes in Bolivia are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Bolivia's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bolivia or another part of Brunswick County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bolivia, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,164
Ownwell’s Bolivia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bolivia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bolivia 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 Bolivia, North Carolina
Property taxes in Bolivia, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bolivia is 0.42%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Bolivia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bolivia 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 Bolivia's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28422 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Bolivia provides valuable insights into the varying tax landscape across Brunswick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bolivia Tax Rate
0.42%
Average Brunswick County Tax Rate
0.43%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bolivia, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28422 | 0.11% | 0.36% | 0.42% | 0.49% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Bolivia, North Carolina
In Bolivia, 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 Brunswick 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 Bolivia, 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 Bolivia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bolivia are both $935.00, found in the zip code 28422.
Average Bolivia Assessed Value
$277,240
Average Brunswick County Assessed Value
$338,175
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bolivia, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28422 | $57,076 | $136,780 | $277,240 | $413,240 | $553,122 |
Source: Ownwell
Property Tax Bills Across Bolivia, North Carolina
In Bolivia, located in Brunswick County, NC, property tax bills are determined by assessing the value of a home and applying the local tax rate to this assessed value. The median home price in Bolivia is $277,240. Homeowners in this area can expect property tax bills to vary significantly based on their home's assessed value. For example, at the 25th percentile, tax bills are around $441, while at the 75th percentile, they rise to approximately $1,647. The 90th percentile sees tax bills as high as $2,304. These tax bills are influenced by several factors, including the home's assessed value and the specific tax rate applied by Brunswick County. For homeowners, this means that higher property values lead to higher tax bills. Compared to the national median property tax rate of 0.99%, Bolivia's tax rates can create a range of financial impacts on residents, affecting their overall cost of homeownership. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Bolivia Tax Bill
$935
Average Brunswick County Tax Bill
$1,377
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Bolivia, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28422 | $190 | $441 | $935 | $1,647 | $2,304 |
Source: Ownwell