Leasburg, North Carolina Property Taxes
The median property tax rate in Leasburg, NC is 0.84%, slightly higher than the state median of 0.82% but below the national median of 0.99%. With the median home value in Leasburg at $117,910, the typical annual property tax bill is $856, which is significantly lower than the national median of $2,690. Property taxes in Leasburg are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Leasburg'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 Leasburg 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
Leasburg, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$990
Ownwell’s Leasburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leasburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leasburg 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 Leasburg, North Carolina
Property taxes in Leasburg, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leasburg is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Leasburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leasburg 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 Leasburg's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27291 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Leasburg 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 Leasburg Tax Rate
0.84%
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 Leasburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27291 | 0.51% | 0.79% | 0.84% | 0.92% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Leasburg, North Carolina
In Leasburg, 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. In Leasburg, 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 Leasburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 27291 has both the highest and lowest median tax bill at $856, reflecting the range of tax burdens within the area.
Property Tax Assessment Values Across Leasburg, North Carolina
Source: Ownwell
$73,037
$187,890
$302,742
Average Leasburg Assessed Value
$117,910
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 Leasburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27291 | $42,614 | $70,197 | $117,910 | $224,942 | $362,789 |
Source: Ownwell
Property Tax Bills Across Leasburg, North Carolina
In Leasburg, Caswell County, NC, property tax bills are determined based on the assessed value of a home. The assessed value is derived from the market value, which is then multiplied by the local property tax rate. With a median home price of $117,910, homeowners in Leasburg can expect varying tax bills. For instance, the tax bill at the 25th percentile is around $597, while at the 75th percentile, it rises to approximately $1,495. Those with properties in the 90th percentile can face tax bills as high as $2,663. Several factors influence property tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Leasburg's rates offer a perspective on how local taxes can impact homeowners. These tax bills play a significant role in household budgeting, affecting overall affordability and financial planning. Homeowners should stay informed about their property's assessed value and any potential changes in tax rates to manage their expenses effectively.
Average Leasburg Tax Bill
$856
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Leasburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27291 | $401 | $597 | $856 | $1,495 | $2,663 |
Source: Ownwell