Connelly Springs, North Carolina Property Taxes
The median property tax rate in Connelly Springs, NC is 0.75%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $126,294 in Connelly Springs, the typical annual property tax bill is $919, significantly below the national median of $2,690. Property taxes in Connelly Springs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Connelly Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Connelly Springs or another part of Burke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Connelly Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$947
-$9,927
Ownwell’s Connelly Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Connelly Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Connelly Springs 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 Connelly Springs, North Carolina
Property taxes in Connelly Springs, North Carolina, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Connelly Springs is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Connelly Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Connelly Springs 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 Connelly Springs' effective property tax rate to other areas in Burke County and the national median. For comparison, the zip code 28612 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these figures compare with Connelly Springs provides valuable insights into the varying tax landscape across Burke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Connelly Springs Tax Rate
0.75%
Average Burke County Tax Rate
0.72%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Connelly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28612 | 0.67% | 0.71% | 0.75% | 0.80% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Connelly Springs, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Connelly Springs, North Carolina. 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 Burke 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 Connelly Springs, 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. For instance, the median home price in Connelly Springs is $126,294, with property tax bills ranging from $546 at the 25th percentile to $2,122 at the 90th percentile. The zip code 28612 holds both the highest and lowest median tax bills at $919. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Connelly Springs, North Carolina
Source: Ownwell
$33,106
$242,016
$450,926
Average Connelly Springs Assessed Value
$126,294
Average Burke County Assessed Value
$144,639
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Connelly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28612 | $35,297 | $74,303 | $126,294 | $199,067 | $301,495 |
Source: Ownwell
Property Tax Bills Across Connelly Springs, North Carolina
In Connelly Springs, located in Burke County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, the median home price in Connelly Springs is $126,294. The tax bills vary significantly, with the 25th percentile paying around $546 and the 75th percentile paying up to $1,432 annually. At the 90th percentile, homeowners might see a tax bill as high as $2,122. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Connelly Springs may find their tax rates to be relatively manageable. Understanding these elements helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Connelly Springs Tax Bill
$919
Average Burke County Tax Bill
$1,021
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Connelly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28612 | $308 | $546 | $919 | $1,432 | $2,122 |
Source: Ownwell