Burlington, North Carolina Property Taxes
The median property tax rate in Burlington, NC is 0.86%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value in Burlington, the typical annual property tax bill amounts to $844, which is significantly below the national median of $2,690. Property taxes in Burlington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Burlington'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 Burlington or another part of Caswell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burlington, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$870
Ownwell’s Burlington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlington 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 Burlington, North Carolina
Property taxes in Burlington, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlington is 0.86%, lower than the U.S. national median of 0.99%. Local government entities within Burlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burlington 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 Burlington's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27217 zip code has the highest median property tax rate of 0.86%, while the 27217 zip code also has the lowest median tax rate of 0.86%. Understanding how these areas compare with Burlington provides valuable insights into the varying tax landscape across Caswell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.86%
Average Caswell County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burlington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27217 | 0.57% | 0.79% | 0.86% | 0.92% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Burlington, North Carolina
In Burlington, 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 Caswell 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. 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 Burlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Burlington are both $844, found in the 27217 zip code.
Property Tax Assessment Values Across Burlington, North Carolina
Source: Ownwell
$73,037
$187,890
$302,742
Average Burlington Assessed Value
$101,163
Average Caswell County Assessed Value
$93,808
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burlington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27217 | $48,226 | $68,451 | $101,163 | $180,520 | $286,601 |
Source: Ownwell
Property Tax Bills Across Burlington, North Carolina
In Burlington, located in Caswell County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by county tax assessors. The median home price in Burlington is $101,163. To calculate the property tax, the assessed value is multiplied by the local property tax rate. For example, a home valued at the median price with a tax rate of 0.99% would generate a tax bill of approximately $1,001 annually. However, tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $600, while at the 75th percentile, it rises to $1,434. At the 90th percentile, homeowners can expect to pay around $2,083. This range indicates that higher-valued properties incur higher tax bills, impacting homeowners differently based on their property’s assessed value. The highest and lowest median tax bill in Burlington is $844, specifically in the 27217 zip code, highlighting the uniformity in certain areas. Understanding these factors helps homeowners anticipate their property tax obligations more accurately.
Average Burlington Tax Bill
$844
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27217 | $396 | $600 | $844 | $1,434 | $2,083 |
Source: Ownwell