Broadway, Lee County, North Carolina Property Taxes
Median Broadway, NC effective property tax rate: 1.20%, significantly higher than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Broadway, NC home value: $195,000
Median annual Broadway, NC tax bill: $2,174, $226 lower than the national median property tax bill of $2,400.
How are property taxes in Lee calculated?
Property taxes in Broadway, 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 Broadway’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Broadway, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Broadway, Lee County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.24%
Estimate Property Tax Bill
$2,430
$2,255
Property Tax Rates Across Broadway, Lee County, North Carolina
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 Broadway Tax Rate
1.24%
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 Lee County Tax Rate
0.90%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Broadway, Lee County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27505 | 0.83% | 1.24% | 1.24% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Broadway, Lee County, North Carolina
When examining property taxes in Broadway, 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 Lee County Appraisal District 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.
In Lee 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 Broadway. For example, the median home price in Broadway is $195,000, with tax bills ranging significantly across the county. Zip code 27505 has the highest median home price at $195,000.
Property Tax Assessment Values Across Broadway, Lee County, North Carolina
Source: Ownwell
$137,100
$166,550
$196,000
Median Broadway Market Value
$196,000
Median Lee County Market Value
$174,300
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Broadway, Lee County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27505 | $31,000 | $137,600 | $196,000 | $269,700 | $329,600 |
Source: Ownwell
Property Tax Bills Across Broadway, Lee County, North Carolina
In Broadway, NC, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which can fluctuate based on market conditions and property improvements. Homeowners in Broadway face a median property tax bill of $2,174, which is slightly below the national median of $2,400. This indicates a relatively moderate tax burden compared to other regions. Factors such as property size, location, and improvements can influence the assessed value, subsequently affecting the tax bill.
Ownwell offers a valuable service by helping homeowners navigate the complexities of property tax assessments. By conducting thorough reviews and identifying potential discrepancies, Ownwell can assist homeowners in appealing their assessments, potentially lowering their tax bills. This not only saves money but also ensures homeowners are not overpaying. With professional guidance from Ownwell, homeowners in Broadway can achieve a fair and accurate property tax bill, alleviating financial strain and enhancing peace of mind.
Median Broadway Tax Bill
$2,395
Median Lee County Tax Bill
$1,751
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Broadway, Lee County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27505 | $549 | $1,507 | $2,395 | $3,265 | $4,068 |
Source: Ownwell