Bunn, Franklin County, North Carolina Property Taxes

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Bunn in Franklin County, North Carolina, presents an interesting case for property tax rates. The effective property tax rate in Bunn is 0.97%, which aligns with the highest and lowest median tax rates in the state, both recorded in the same zip code. This rate is slightly below the national median property tax rate of 1.02%. It's also worth noting that the median property tax bill in Bunn might be lower than the national median of $2,400, which could be appealing for property owners looking to manage their expenses. Comparing Bunn's effective property tax rate to other cities in North Carolina and the median property tax rates in the U.S. can provide valuable insights for potential property buyers or investors considering this region.

In Bunn, located in Franklin County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $96,450, homeowners can expect a property tax bill around the national median of $2,400. However, in Bunn, the tax bill can range from the 25th percentile at $685 to the 90th percentile at $2,079, reflecting variations in property values and exemptions. The highest and lowest median tax bills in the area are both $1,007, indicating a level of consistency in tax assessments.

Homeowners in Bunn can benefit from appealing their property tax assessments to potentially reduce their tax burden. Ownwell provides expert assistance in navigating the property tax appeal process, helping homeowners identify discrepancies in their assessed values and ensuring they pay only their fair share. By leveraging Ownwell's services, homeowners can achieve significant savings on their property tax bills, easing the financial impact on their household budgets.