Emerald Isle, North Carolina Property Taxes
The median property tax rate in Emerald Isle, 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 $300,000 in Emerald Isle, the typical annual property tax bill is around $1,200, which is well below the national median of $2,690. Property taxes in Emerald Isle are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Emerald Isle'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 Emerald Isle or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Emerald Isle, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,200
Ownwell’s Emerald Isle Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Emerald Isle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emerald Isle 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 Emerald Isle, North Carolina
Property taxes in Emerald Isle, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Emerald Isle is 0.52%, which is higher than the North Carolina state median of 0.70% but lower than the U.S. national median of 0.99%. Local government entities within Emerald Isle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emerald Isle 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 Emerald Isle's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in the state is 1.22%, while the lowest median tax rate is 0.28%. Understanding how these cities compare with Emerald Isle 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 Emerald Isle 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 Emerald Isle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28594 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Emerald Isle, North Carolina
In Emerald Isle, 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 Emerald Isle, 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 example, the highest and lowest median tax bills in Emerald Isle both stand at $1200, specifically in the zip code 28594. Being aware of these valuation processes in Emerald Isle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Emerald Isle, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Emerald Isle Assessed Value
$300,000
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 Emerald Isle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28594 | $300,000 | $300,000 | $300,000 | $300,000 | $300,000 |
Source: Ownwell
Property Tax Bills Across Emerald Isle, North Carolina
In Emerald Isle, located in Avery County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the market value of the property. For instance, with a median home price of $300,000, homeowners can expect their tax bill to be influenced by this valuation. The property tax rate in Emerald Isle is consistent, resulting in tax bills that typically hover around $1,200, which is notably lower than the national median property tax rate of 0.99%. Several factors contribute to the final tax bill, including the property's assessed value, any applicable exemptions, and the local tax rate. For homeowners, this means that while the assessed value provides a base, exemptions and local rates can significantly impact the final amount owed. This consistent tax rate provides predictability for homeowners, ensuring that their property tax bills remain manageable and aligned with the assessed property values in the area.
Average Emerald Isle Tax Bill
$1,200
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Emerald Isle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28594 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 |
Source: Ownwell