Boomer, North Carolina Property Taxes
The median property tax rate in Boomer, NC is 0.76%, 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 $93,250 in Boomer, the typical annual property tax bill amounts to $669, well below the national median of $2,690. Property taxes in Boomer are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Boomer'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 Boomer 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
Boomer, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$709
Ownwell’s Boomer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boomer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boomer 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 Boomer, North Carolina
Property taxes in Boomer, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boomer is 0.76%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Boomer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boomer 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 Boomer's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28606 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Boomer provides valuable insights into the varying tax landscape across Wilkes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boomer Tax Rate
0.76%
Average Wilkes County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boomer, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28606 | 0.53% | 0.75% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Boomer, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Boomer, North Carolina. The market value represents 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 Wilkes County 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 Boomer, 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. The median home price in Boomer is $93,250, with tax bills ranging from $434 at the 25th percentile to $1,887 at the 90th percentile. 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 Boomer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boomer Assessed Value
$93,250
Average Wilkes County Assessed Value
$107,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boomer, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28606 | $39,086 | $59,860 | $93,250 | $165,700 | $265,536 |
Source: Ownwell
Property Tax Bills Across Boomer, North Carolina
In Boomer, Wilkes County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Boomer is $93,250. Property taxes are then calculated by applying the local tax rate to this assessed value. For example, if the tax rate is 0.99%, which aligns with the national median, a home assessed at $93,250 would incur a tax bill of approximately $923. However, tax bills can vary significantly. At the 25th percentile, homeowners in Boomer might see a tax bill of around $434, while those at the 75th percentile could face bills as high as $1,157. The 90th percentile tax bill can reach up to $1,887. These variations depend on factors such as property location, improvements, and exemptions. For homeowners, understanding these factors is crucial, as they directly impact annual tax obligations and overall housing affordability.
Average Boomer Tax Bill
$669
Average Wilkes County Tax Bill
$770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Boomer, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28606 | $249 | $434 | $669 | $1,157 | $1,887 |
Source: Ownwell