Ocean Isle Beach, North Carolina Property Taxes
The median property tax rate in Ocean Isle Beach, NC is 0.37%, 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 $458,680 in Ocean Isle Beach, the typical annual property tax bill is $1,718, which is well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, typically lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ocean Isle Beach'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 Ocean Isle Beach 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
Ocean Isle Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$1,697
Ownwell’s Ocean Isle Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ocean Isle Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ocean Isle Beach 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 Ocean Isle Beach, North Carolina
Property taxes in Ocean Isle Beach, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ocean Isle Beach is 0.37%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Ocean Isle Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ocean Isle Beach 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 Ocean Isle Beach's effective property tax rate to other counties in North Carolina and the national median. Understanding how these cities compare with Ocean Isle Beach 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 Ocean Isle Beach Tax Rate
0.37%
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 Ocean Isle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28467 | 0.26% | 0.26% | 0.27% | 0.29% | 0.30% |
| 28469 | 0.28% | 0.33% | 0.37% | 0.44% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Ocean Isle Beach, North Carolina
In Ocean Isle Beach, 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 property appraiser 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 Ocean Isle Beach, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 28467 has the highest median tax bill at $2,168, while zip code 28469 has the lowest at $1,717.
Property Tax Assessment Values Across Ocean Isle Beach, North Carolina
Source: Ownwell
$90,960
$529,140
$967,320
Average Ocean Isle Beach Assessed Value
$458,680
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 Ocean Isle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28467 | $731,300 | $768,155 | $792,315 | $817,570 | $825,625 |
| 28469 | $103,690 | $271,615 | $458,570 | $739,625 | $1,038,110 |
Source: Ownwell
Property Tax Bills Across Ocean Isle Beach, North Carolina
In Ocean Isle Beach, located in Brunswick County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in the area stands at $458,680. Property taxes are influenced by local tax rates and the assessed property value. For instance, homeowners in the 25th percentile can expect to pay around $965 annually, while those in the 75th percentile may see bills as high as $2,640. At the 90th percentile, tax bills can reach $3,648. The highest median tax bill within the region is $2,168 in the 28467 zip code, whereas the lowest is $1,717 in the 28469 zip code. These figures are crucial for homeowners as they impact the overall cost of owning property in Ocean Isle Beach. Compared to the national median property tax rate of 0.99%, the property tax rates in this area can vary significantly, affecting both affordability and long-term financial planning for residents.
Average Ocean Isle Beach Tax Bill
$1,718
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 Ocean Isle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28467 | $1,920 | $2,025 | $2,168 | $2,393 | $2,474 |
| 28469 | $369 | $964 | $1,717 | $2,640 | $3,650 |
Source: Ownwell