Burlington, North Carolina Property Taxes
The median property tax rate in Burlington, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Burlington, the typical annual property tax bill reaches $1,731, well below the national median of $2,690. Property taxes in Burlington 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 Burlington'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 Burlington 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
Burlington, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,731
$1,606
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlington is 0.40%, which is 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 ZIP code 27217 has the highest median property tax rate of 0.40%, while ZIP code 27215 has the lowest median tax rate of 0.40%. Understanding how these areas compare with Burlington provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
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 |
---|---|---|---|---|---|
27215 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
27217 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
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 local 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 Burlington, 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 median tax bill in Burlington is $2,365 in the 27215 zip code, while the lowest median tax bill is $116 in the 27217 zip code.
Property Tax Assessment Values Across Burlington, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Burlington Assessed Value
$432,700
Average Avery County Assessed Value
$135,500
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 |
---|---|---|---|---|---|
27215 | $464,430 | $512,025 | $591,350 | $670,675 | $718,270 |
27217 | $28,900 | $28,900 | $28,900 | $28,900 | $28,900 |
Source: Ownwell
Property Tax Bills Across Burlington, North Carolina
In Burlington, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. For example, with a median home price of $432,700, homeowners can expect varying tax bills depending on their specific property and location within the city. The median tax bill in Burlington ranges significantly, from as low as $116 in some areas to as high as $2,746. The 25th percentile tax bill is around $923, while the 75th percentile tax bill reaches $2,365. This variability highlights the influence of neighborhood property values and local tax rates. Compared to the national median property tax rate of 0.99%, Burlington's tax rates can be either more affordable or more burdensome, depending on the area. Homeowners should be aware of these factors as they directly impact annual housing costs and overall affordability.
Average Burlington Tax Bill
$1,731
Average Avery County Tax Bill
$540
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 |
---|---|---|---|---|---|
27215 | $1,858 | $2,048 | $2,365 | $2,683 | $2,873 |
27217 | $116 | $116 | $116 | $116 | $116 |
Source: Ownwell