Pine Knoll Shores, North Carolina Property Taxes
The median property tax rate in Pine Knoll Shores, NC is 0.34%, 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 Pine Knoll Shores at $557,538, the typical annual property tax bill reaches $1,911, falling short of the national median of $2,690. Property taxes in Pine Knoll Shores 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 Pine Knoll Shores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pine Knoll Shores 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
Pine Knoll Shores, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.34%
Estimate Property Tax Bill
$1,896
Ownwell’s Pine Knoll Shores Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pine Knoll Shores with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pine Knoll Shores 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 Pine Knoll Shores, North Carolina
Property taxes in Pine Knoll Shores, 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 Pine Knoll Shores is 0.34%, significantly lower than both the North Carolina state median of 0.74% and the U.S. national median of 0.99%. Local government entities within Pine Knoll Shores set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pine Knoll Shores 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 Pine Knoll Shores' effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27510 zip code has the highest median property tax rate of 1.21%, while the 27889 zip code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Pine Knoll Shores 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 Pine Knoll Shores Tax Rate
0.34%
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 Pine Knoll Shores, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28512 | 0.34% | 0.34% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Pine Knoll Shores, North Carolina
In Pine Knoll Shores, 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 Pine Knoll Shores, 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 Pine Knoll Shores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28512 has both the highest and lowest median tax bills, each valued at $1,911.
Property Tax Assessment Values Across Pine Knoll Shores, North Carolina
Source: Ownwell
$70,790
$314,164
$557,538
Average Pine Knoll Shores Assessed Value
$557,538
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 Pine Knoll Shores, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28512 | $344,549 | $550,872 | $557,538 | $762,649 | $852,888 |
Source: Ownwell
Property Tax Bills Across Pine Knoll Shores, North Carolina
In Pine Knoll Shores, Carteret County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, homeowners in Pine Knoll Shores experience property tax bills ranging from $1,888 at the 25th percentile to $2,915 at the 90th percentile. The median home price in the area is $557,538, which influences the overall tax amount. Compared to the national median property tax rate of 0.99%, Pine Knoll Shores offers a competitive tax landscape. Homeowners should be aware of these factors as they significantly impact annual financial planning and property affordability. Understanding how these elements interplay can help homeowners anticipate their tax obligations and manage their budgets effectively.
Average Pine Knoll Shores Tax Bill
$1,911
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 Pine Knoll Shores, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28512 | $1,177 | $1,888 | $1,911 | $2,608 | $2,915 |
Source: Ownwell