Bonlee, North Carolina Property Taxes
The median property tax rate in Bonlee, NC is 0.84%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Bonlee at $48,190, the typical annual property tax bill amounts to $434, which is significantly lower than the national median of $2,690. Property taxes in Bonlee are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bonlee'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 Bonlee 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
Bonlee, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$405
Ownwell’s Bonlee Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bonlee with just two data points. Simply input your property's estimated assessed value, and the calculator will apply the median tax rate in Bonlee to provide an accurate property tax estimate. This user-friendly tool offers a clear understanding of your potential tax liabilities. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by Chatham County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Bonlee, North Carolina
Property taxes in Bonlee, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bonlee is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Bonlee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bonlee 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 Bonlee's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27213 has both the highest and lowest median property tax rate of 0.84%. Understanding how these areas compare with Bonlee provides valuable insights into the varying tax landscape across Chatham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bonlee Tax Rate
0.84%
Average Chatham County Tax Rate
0.85%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bonlee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27213 | 0.77% | 0.80% | 0.84% | 0.89% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Bonlee, North Carolina
In Bonlee, 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 Chatham 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 Bonlee, 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 Bonlee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Bonlee is $434, with zip code 27213 having the highest and lowest median tax bills at $434.
Average Bonlee Assessed Value
$48,190
Average Chatham County Assessed Value
$323,510
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bonlee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27213 | $22,772 | $32,304 | $48,190 | $64,077 | $73,609 |
Source: Ownwell
Property Tax Bills Across Bonlee, North Carolina
In Bonlee, NC, property tax bills are calculated using the assessed value of a home and the local tax rate. The assessed value is determined by the Chatham County tax assessor and is based on various factors, including the property's market value, location, and any improvements made. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Bonlee, the median home price is $48,190. The tax bills can vary significantly, with the 25th percentile at $279 and the 75th percentile at $589, indicating a range depending on the specific property's value and characteristics. The 90th percentile tax bill goes up to $682, showing that higher-value properties incur higher taxes. Compared to the national median property tax rate of 0.99%, Bonlee's property tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial obligations. Understanding these factors helps homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Bonlee Tax Bill
$434
Average Chatham County Tax Bill
$2,675
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Bonlee, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27213 | $186 | $279 | $434 | $589 | $682 |
Source: Ownwell