Bald Head Island, North Carolina Property Taxes
The median property tax rate in Bald Head Island, NC is 0.80%, slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Bald Head Island at $967,320, the typical annual property tax bill reaches $7,827, significantly surpassing the national median of $2,690. Property taxes in Bald Head 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 Bald Head 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 Bald Head Island or another part of Brunswick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bald Head Island, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$7,739
Ownwell’s Bald Head Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bald Head Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bald Head 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 Bald Head Island, North Carolina
Property taxes in Bald Head Island, North Carolina, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Bald Head Island is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Bald Head Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bald Head 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 Bald Head Island's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28461 has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Bald Head Island provides valuable insights into the varying tax landscape across Brunswick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bald Head Island Tax Rate
0.80%
Average Brunswick County Tax Rate
0.43%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bald Head Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28461 | 0.65% | 0.71% | 0.80% | 0.92% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Bald Head Island, North Carolina
In Bald Head 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 Brunswick 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. 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 Bald Head Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bald Head Island are both $7,827, found in the zip code 28461.
Property Tax Assessment Values Across Bald Head Island, North Carolina
Source: Ownwell
$90,960
$529,140
$967,320
Average Bald Head Island Assessed Value
$967,320
Average Brunswick County Assessed Value
$338,175
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bald Head Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28461 | $657,180 | $747,858 | $967,320 | $1,320,648 | $1,877,439 |
Source: Ownwell
Property Tax Bills Across Bald Head Island, North Carolina
In Bald Head Island, Brunswick County, NC, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For instance, with a median home price of $967,320, homeowners can expect to pay a significant amount in property taxes. The tax bill varies widely, with the 25th percentile at $5,363 and the 75th percentile reaching $11,654, while the 90th percentile can soar to $17,153. This variation is influenced by factors such as property location, size, and improvements. Compared to the national median property tax rate of 0.99%, homeowners in Bald Head Island might find their tax bills to be relatively high, reflecting the premium property values in the area. These property taxes fund essential community services and infrastructure, impacting homeowners by contributing to the quality of local amenities and overall property value stability.
Average Bald Head Island Tax Bill
$7,827
Average Brunswick County Tax Bill
$1,377
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Bald Head Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28461 | $4,602 | $5,363 | $7,827 | $11,654 | $17,153 |
Source: Ownwell