Buxton, North Carolina Property Taxes
The median property tax rate in Buxton, NC is 0.60%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Buxton at $278,100, the typical annual property tax bill reaches $1,619, which is significantly less than the national median of $2,690. Property taxes in Buxton 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 Buxton'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 Buxton or another part of Dare County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buxton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,669
Ownwell’s Buxton Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate their annual property taxes in Buxton with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Buxton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more granular insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Buxton, North Carolina
Property taxes in Buxton, North Carolina, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buxton is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Buxton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buxton 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 Buxton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27920 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Buxton provides valuable insights into the varying tax landscape across Dare County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buxton Tax Rate
0.60%
Average Dare County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buxton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27920 | 0.59% | 0.59% | 0.60% | 0.60% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Buxton, North Carolina
In Buxton, 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 Dare 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 Buxton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Within Buxton, the zip code 27920 has both the highest and lowest median tax bill, which is $1,619.
Average Buxton Assessed Value
$278,100
Average Dare County Assessed Value
$355,020
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buxton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27920 | $136,480 | $186,700 | $278,100 | $381,317 | $511,347 |
Source: Ownwell
Property Tax Bills Across Buxton, North Carolina
In Buxton, located in Dare County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Buxton can expect their tax bills to vary significantly, depending on the assessed value of their property and the specific tax rate applied. For instance, the median home price in Buxton is $278,100. Property tax bills range widely, with the 25th percentile at $1,054 and the 75th percentile reaching $2,317. At the higher end, the 90th percentile tax bill is $3,213. These figures illustrate how property taxes can impact homeowners differently, depending on the value of their homes. Compared to the national median property tax rate of 0.99%, Buxton's property taxes reflect the unique economic and housing conditions of the area. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Buxton Tax Bill
$1,619
Average Dare County Tax Bill
$2,313
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Buxton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27920 | $751 | $1,054 | $1,619 | $2,317 | $3,213 |
Source: Ownwell