Burgaw, North Carolina Property Taxes
The median property tax rate in Burgaw, NC is 1.01%, slightly above the national median of 0.99% and significantly higher than the North Carolina state median of 0.82%. With the median home value in Burgaw, the typical annual property tax bill is $1,065, which is lower than the national median of $2,690. Property taxes in Burgaw 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 Burgaw'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 Burgaw 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
Burgaw, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,119
$1,038
Ownwell’s Burgaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burgaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burgaw 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 Burgaw, North Carolina
Property taxes in Burgaw, 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 Burgaw is 1.01%, which is slightly higher than the U.S. national median of 0.99%. Local government entities within Burgaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burgaw 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. Understanding how these cities compare with Burgaw provides valuable insights into the varying tax landscape across Pender County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burgaw Tax Rate
1.01%
Average Pender County Tax Rate
0.88%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burgaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28425 | 0.72% | 0.85% | 1.01% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Burgaw, North Carolina
In Burgaw, 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 Pender 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 Burgaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 28425, with a median tax bill of $1,065.
Average Burgaw Assessed Value
$110,801
Average Pender County Assessed Value
$183,803
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burgaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28425 | $36,105 | $65,216 | $110,801 | $168,775 | $226,820 |
Source: Ownwell
Property Tax Bills Across Burgaw, North Carolina
In Burgaw, property tax bills are calculated based on the assessed value of your home, which is determined by the Pender County tax assessor. The assessed value is then multiplied by the local property tax rate to determine your annual tax bill. For example, with a median home price of $110,801, the property tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $635, while those in the 75th percentile might see bills as high as $1,648. The highest tax bills, often in the 90th percentile, can reach up to $2,199. These figures highlight the range of property taxes in Burgaw, where the median tax bill stands at $1,065. This is relatively low compared to the national median property tax rate of 0.99%, making Burgaw an attractive location for homeowners looking for affordable property taxes. Understanding these factors helps homeowners budget effectively and anticipate their annual financial obligations.
Average Burgaw Tax Bill
$1,065
Average Pender County Tax Bill
$1,515
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Burgaw, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28425 | $299 | $635 | $1,065 | $1,648 | $2,199 |
Source: Ownwell