Bahama, Durham County, North Carolina Property Taxes
Median Bahama, NC effective property tax rate: 0.96%, slightly lower than the national median of 1.02%, but higher than the North Carolina state median of 0.82%.
Median Bahama, NC home value: $247,484
Median annual Bahama, NC tax bill: $2,384, $16 lower than the national median property tax bill of $2,400.
How are property taxes in Durham calculated?
Property taxes in Bahama, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption. Understanding Bahama’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bahama, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bahama, Durham County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.96%
Estimate Property Tax Bill
$2,376
$2,205
Property Tax Rates Across Bahama, Durham County, North Carolina
Local government entities establish tax rates, which can differ significantly within a state. Each county annually estimates its budgetary needs for providing services and divides that by the total assessed value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Bahama, located in Durham County, North Carolina, the effective property tax rate is a reflection of this process. When compared to other cities in North Carolina and the national median, Bahama's rate offers an interesting perspective. The median property tax rate in North Carolina is 0.96%, which is slightly below the national median of 1.02%. This suggests that Bahama, along with other areas in the state, generally benefits from lower property tax rates compared to many other regions in the country. Understanding these variations can be crucial for property owners looking to manage their tax liabilities effectively.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bahama Tax Rate
0.96%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Durham County Tax Rate
1.31%
Median Effective North Carolina Tax Rate
0.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bahama, Durham County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27503 | 0.91% | 0.93% | 0.96% | 1.00% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Bahama, Durham County, North Carolina
When examining property taxes in Bahama, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Durham County Tax Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Durham County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bahama. For example, the median home price in Bahama is $247,484, with tax bills ranging significantly across the county. Zip code 27503 has the highest median home price at $247,484.
Property Tax Assessment Values Across Bahama, Durham County, North Carolina
Source: Ownwell
$164,928
$252,967
$341,005
Median Bahama Market Value
$247,484
Median Durham County Market Value
$220,810
Median North Carolina Market Value
$197,136
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bahama, Durham County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27503 | $120,473 | $176,570 | $247,484 | $333,602 | $418,788 |
Source: Ownwell
Property Tax Bills Across Bahama, Durham County, North Carolina
Median Bahama Tax Bill
$2,384
Median Durham County Tax Bill
$2,770
Median North Carolina Tax Bill
$1,615
Median United States Tax Bill
$2,400
Property Tax Bills Across Bahama, Durham County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27503 | $1,214 | $1,716 | $2,384 | $3,101 | $3,833 |
Source: Ownwell