Beaufort, North Carolina Property Taxes
The median property tax rate in Beaufort, NC is 0.77%, lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Beaufort at $188,545, the typical annual property tax bill reaches $1,320, which is below the national median of $2,690. Property taxes in Beaufort are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Beaufort'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 Beaufort or another part of Carteret County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beaufort, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,452
Ownwell’s Beaufort Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beaufort with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beaufort 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 Beaufort, North Carolina
Property taxes in Beaufort, North Carolina, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Beaufort is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Beaufort set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beaufort 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 Beaufort's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28516 in Beaufort has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Beaufort 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 Beaufort Tax Rate
0.77%
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 Beaufort, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28516 | 0.53% | 0.59% | 0.77% | 0.89% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Beaufort, North Carolina
In Beaufort, 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 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 Beaufort, 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. The median home price in Beaufort is $188,545, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $765, while the 75th percentile tax bill is $2,301, and the 90th percentile tax bill reaches $3,555. The zip code with the highest and lowest median tax bill is 28516, both valued at $1,320. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Beaufort, North Carolina
Source: Ownwell
$70,790
$314,164
$557,538
Average Beaufort Assessed Value
$188,545
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 Beaufort, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28516 | $59,375 | $107,022 | $188,545 | $317,514 | $474,528 |
Source: Ownwell
Property Tax Bills Across Beaufort, North Carolina
In Beaufort, located in Carteret County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. The median home price in Beaufort is $188,545, and the property tax rate in this region is compared to the national median property tax rate of 0.99%. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Beaufort can expect their property tax bills to vary significantly, with the 25th percentile paying around $765 annually, while those in the 75th percentile might see bills as high as $2,301. The 90th percentile can experience even higher taxes, reaching up to $3,555. For homeowners, understanding these factors is crucial as property taxes can significantly impact their annual budget and long-term financial planning.
Average Beaufort Tax Bill
$1,320
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 Beaufort, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28516 | $463 | $765 | $1,320 | $2,301 | $3,555 |
Source: Ownwell