Moyock, North Carolina Property Taxes
The median property tax rate in Moyock, NC is 0.66%, 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 Moyock, the typical annual property tax bill reaches $1,185, falling well below the national median of $2,690. Property taxes in Moyock 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 Moyock'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 Moyock or another part of Currituck County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moyock, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,238
Ownwell’s Moyock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moyock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moyock 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 Moyock, North Carolina
Property taxes in Moyock, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moyock is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Moyock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moyock 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 Moyock's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27958 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Moyock provides valuable insights into the varying tax landscape across Currituck County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moyock Tax Rate
0.66%
Average Currituck County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moyock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27958 | 0.56% | 0.61% | 0.66% | 0.76% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Moyock, North Carolina
In Moyock, 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 Currituck 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 Moyock, 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 Moyock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Moyock is $187,550, with the highest and lowest median tax bills both at $1,185 in the 27958 zip code.
Average Moyock Assessed Value
$187,550
Average Currituck County Assessed Value
$330,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moyock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27958 | $33,450 | $83,000 | $187,550 | $347,700 | $460,100 |
Source: Ownwell
Property Tax Bills Across Moyock, North Carolina
In Moyock, located in Currituck County, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Moyock, the median home price is $187,550, and the property tax rate is applied to this value to calculate the tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Moyock can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $564, while the 75th percentile tax bill reaches $2,028, and the 90th percentile tax bill can be as high as $2,704. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. High property tax bills can impact homeowners by increasing the overall cost of owning a home, influencing decisions about purchasing or maintaining property in the area.
Average Moyock Tax Bill
$1,185
Average Currituck County Tax Bill
$2,308
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Moyock, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27958 | $386 | $564 | $1,185 | $2,028 | $2,704 |
Source: Ownwell