Atlantic, North Carolina Property Taxes
The median property tax rate in Atlantic, NC is 0.69%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Atlantic at $93,064, the typical annual property tax bill reaches $649, significantly below the national median of $2,690. Property taxes in Atlantic are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Atlantic'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 Atlantic 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
Atlantic, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$642
Ownwell’s Atlantic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atlantic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atlantic 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 Atlantic, North Carolina
Property taxes in Atlantic, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atlantic is 0.69%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Atlantic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atlantic 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 Atlantic's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28511 has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Atlantic provides valuable insights into the varying tax landscape across Carteret County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atlantic Tax Rate
0.69%
Average Carteret County Tax Rate
0.55%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atlantic, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28511 | 0.56% | 0.61% | 0.69% | 0.80% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Atlantic, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Atlantic, NC. 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 Carteret 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 Atlantic, 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. For instance, in the 28511 zip code, homeowners face the highest median tax bill of $649. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Atlantic, North Carolina
Source: Ownwell
$70,790
$314,164
$557,538
Average Atlantic Assessed Value
$93,064
Average Carteret County Assessed Value
$225,462
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atlantic, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28511 | $32,820 | $60,764 | $93,064 | $159,152 | $264,213 |
Source: Ownwell
Property Tax Bills Across Atlantic, North Carolina
In Atlantic, located in Carteret County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with the median home price at $93,064, property owners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $469, while the 75th percentile tax bill reaches $1,016. At the 90th percentile, homeowners might see tax bills as high as $1,684. Several factors influence these calculations, including the property's location, size, and any improvements made. Compared to the national median property tax rate of 0.99%, the rates in Atlantic can result in varying tax burdens. Homeowners need to be aware of these factors as they can significantly impact annual expenses, making property taxes a crucial consideration in homeownership in this region.
Average Atlantic Tax Bill
$649
Average Carteret County Tax Bill
$1,125
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Atlantic, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28511 | $324 | $469 | $649 | $1,016 | $1,684 |
Source: Ownwell