Oceanside, North Carolina Property Taxes
The median property tax rate in Oceanside, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $4,000 in Oceanside, the typical annual property tax bill amounts to just $16, far below the national median of $2,690. Property taxes in Oceanside are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Oceanside's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Oceanside 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
Oceanside, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$16
Ownwell’s Oceanside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oceanside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oceanside 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 Oceanside, North Carolina
Property taxes in Oceanside, North Carolina, are essential for funding key local services such as public education, road maintenance, and emergency response. The median tax rate in Oceanside stands at 0.75%, which is notably higher than the North Carolina state median of 0.70% but still below the U.S. national median of 0.99%. Local government entities within Oceanside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oceanside 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 Oceanside's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28401 has the highest median property tax rate of 0.90%, while zip code 28711 has the lowest median tax rate of 0.60%. Understanding how these cities compare with Oceanside provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oceanside Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oceanside, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92056 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Oceanside, North Carolina
In Oceanside, 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 Avery 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. In Oceanside, 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 Oceanside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip codes with the highest and lowest tax bills both have values of $16.
Property Tax Assessment Values Across Oceanside, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Oceanside Assessed Value
$4,000
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oceanside, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92056 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
Source: Ownwell
Property Tax Bills Across Oceanside, North Carolina
In Oceanside, Avery County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Oceanside, the median home price is $4,000, and the property tax rate is aligned with the county's regulations. Several factors influence the assessed value, including the property's location, size, and any improvements or modifications made. The tax bill can vary significantly depending on these factors. For instance, the tax bill at the 25th, 75th, and 90th percentiles is consistently $16, reflecting a stable tax environment for most homeowners. Compared to the national median property tax rate of 0.99%, Oceanside's property taxes are relatively low, offering a financial advantage for residents. This stability in tax bills ensures predictability for homeowners, allowing them to budget more effectively and invest confidently in their properties.
Average Oceanside Tax Bill
$16
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Oceanside, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92056 | $16 | $16 | $16 | $16 | $16 |
Source: Ownwell