Harkers Island, North Carolina Property Taxes
The median property tax rate in Harkers Island, NC is 0.55%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Harkers Island, the typical annual property tax bill amounts to $959, well below the national median of $2,690. Property taxes in Harkers Island 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 Harkers Island'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 Harkers Island or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harkers Island, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$956
Ownwell’s Harkers Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harkers Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harkers Island 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 Harkers Island, North Carolina
Property taxes in Harkers Island, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harkers Island is 0.55%, lower than the U.S. national median of 0.99%. Local government entities within Harkers Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harkers Island 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 Harkers Island's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28531 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Harkers Island 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 Harkers Island Tax Rate
0.55%
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 Harkers Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28531 | 0.46% | 0.50% | 0.55% | 0.61% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Harkers Island, North Carolina
In Harkers Island, 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 Harkers Island, 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 Harkers Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28531 has the highest and lowest median tax bill at $959. Understanding these figures can help homeowners in Harkers Island anticipate their property tax obligations more accurately.
Property Tax Assessment Values Across Harkers Island, North Carolina
Source: Ownwell
$70,790
$314,164
$557,538
Average Harkers Island Assessed Value
$173,767
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 Harkers Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28531 | $67,774 | $110,214 | $173,767 | $306,018 | $496,972 |
Source: Ownwell
Property Tax Bills Across Harkers Island, North Carolina
In Harkers Island, located in Carteret County, NC, property tax bills are calculated based on the assessed value of a home. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, the median home price in Harkers Island is $173,767. Homeowners can expect their tax bills to vary significantly, depending on their property's assessed value and specific characteristics. The tax bill can range from the 25th percentile at $635 to the 75th percentile at $1,551, with the 90th percentile reaching as high as $2,390. These figures highlight the variability in tax burdens among homeowners. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Harkers Island's property tax rates reflect the local economic conditions and government budgetary needs. This impacts homeowners by influencing their overall housing costs and potentially affecting their decisions regarding property investment and homeownership.
Average Harkers Island Tax Bill
$959
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 Harkers Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28531 | $453 | $635 | $959 | $1,551 | $2,390 |
Source: Ownwell