Castle Hayne, North Carolina Property Taxes
The median property tax rate in Castle Hayne, NC is 0.55%, 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 Castle Hayne at $194,900, the typical annual property tax bill reaches $1,060, well below the national median of $2,690. Property taxes in Castle Hayne 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 Castle Hayne'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 Castle Hayne 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
Castle Hayne, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,072
Ownwell’s Castle Hayne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castle Hayne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castle Hayne 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 Castle Hayne, North Carolina
Property taxes in Castle Hayne, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castle Hayne is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Castle Hayne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castle Hayne 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 Castle Hayne's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28429 zip code 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 areas compare with Castle Hayne provides valuable insights into the varying tax landscape across New Hanover County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castle Hayne Tax Rate
0.55%
Average New Hanover County Tax Rate
0.57%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castle Hayne, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28429 | 0.42% | 0.54% | 0.55% | 0.56% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Castle Hayne, North Carolina
In Castle Hayne, 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 New Hanover 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 Castle Hayne, 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. For instance, the highest median tax bill in Castle Hayne is $1,060 in the 28429 zip code, while the lowest median tax bill is also $1,060 in the same zip code. 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 Castle Hayne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Castle Hayne, North Carolina
Source: Ownwell
$174,100
$558,250
$942,400
Average Castle Hayne Assessed Value
$194,900
Average New Hanover County Assessed Value
$265,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castle Hayne, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28429 | $99,850 | $151,850 | $194,900 | $276,275 | $405,150 |
Source: Ownwell
Property Tax Bills Across Castle Hayne, North Carolina
In Castle Hayne, located in New Hanover County, NC, property tax bills are calculated based on the assessed value of the property and the local tax rate. The median home price in this area is $194,900. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $815 and the 75th percentile reaching $1,459. At the 90th percentile, the tax bill can go up to $2,046. The tax bill is determined by multiplying the assessed value of the property by the local tax rate. Factors such as property location, improvements, and market conditions play a crucial role in determining the assessed value. For homeowners, understanding these factors is essential as they directly impact the amount owed annually. Comparing these figures to the national median property tax rate of 0.99%, it becomes evident that Castle Hayne's property taxes are relatively moderate, providing a balanced financial environment for residents.
Average Castle Hayne Tax Bill
$1,060
Average New Hanover County Tax Bill
$1,671
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Castle Hayne, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28429 | $471 | $815 | $1,060 | $1,459 | $2,046 |
Source: Ownwell