Butner, North Carolina Property Taxes
The median property tax rate in Butner, NC is 1.37%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Butner, the typical annual property tax bill reaches $1,654, exceeding the national median of $2,690. Property taxes in Butner 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 Butner'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 Butner or another part of Granville County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butner, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$1,671
Ownwell’s Butner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Butner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butner 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 Granville County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Butner, North Carolina
Property taxes in Butner, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butner is 1.37%, significantly higher than the U.S. national median of 0.99%. Local government entities within Butner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butner 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 Butner's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27509 zip code has both the highest and lowest median property tax rate of 1.37%. Understanding how these cities compare with Butner provides valuable insights into the varying tax landscape across Granville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butner Tax Rate
1.37%
Average Granville County Tax Rate
1.00%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butner, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27509 | 1.30% | 1.33% | 1.37% | 1.41% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Butner, North Carolina
In Butner, 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 Granville 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 Butner, 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 Butner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27509, amounting to $1,654.
Average Butner Assessed Value
$121,958
Average Granville County Assessed Value
$137,588
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butner, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27509 | $78,895 | $97,899 | $121,958 | $151,895 | $192,758 |
Source: Ownwell
Property Tax Bills Across Butner, North Carolina
In Butner, located in Granville County, NC, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Butner can expect their property tax bills to fall within a range, with the 25th percentile at $1,325 and the 75th percentile at $2,047. The 90th percentile reaches up to $2,501. Compared to the national median property tax rate of 0.99%, Butner's rates can vary but are generally reflective of the local real estate market and municipal budget needs. For a median home price of $121,958, the property tax bill can significantly impact a homeowner's annual expenses. Factors such as property improvements, neighborhood developments, and changes in the local economy can influence the assessed value, thereby affecting the final tax bill. Understanding these components helps homeowners anticipate their financial obligations and plan accordingly.
Average Butner Tax Bill
$1,654
Average Granville County Tax Bill
$1,476
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Butner, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27509 | $1,062 | $1,325 | $1,654 | $2,047 | $2,501 |
Source: Ownwell