Duck, North Carolina Property Taxes
The median property tax rate in Duck, NC is 0.62%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $312,658 in Duck, the typical annual property tax bill amounts to $3,959, surpassing the national median of $2,690. Property taxes in Duck 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 Duck'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 Duck or another part of Dare County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Duck, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,938
Ownwell’s Duck Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Duck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Duck to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available by scrolling down. 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 Duck, North Carolina
Property taxes in Duck, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duck is 0.62%, lower than the U.S. national median of 0.99%. Local government entities within Duck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duck 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 Duck's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27949 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Duck provides valuable insights into the varying tax landscape across Dare County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Duck Tax Rate
0.62%
Average Dare County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Duck, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | 0.62% | 0.62% | 0.62% | 0.69% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Duck, North Carolina
In Duck, 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 Dare 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 Duck, 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. The median home price in Duck is $312,658, with tax bills ranging from $3,583 at the 25th percentile to $7,597 at the 90th percentile. The highest and lowest median tax bills are both $3,959, found in the zip code 27949. 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 Duck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Duck Assessed Value
$312,658
Average Dare County Assessed Value
$355,020
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Duck, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | $198,700 | $198,700 | $312,658 | $821,247 | $2,894,383 |
Source: Ownwell
Property Tax Bills Across Duck, North Carolina
In Duck, located in Dare County, NC, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. The assessed value is an estimate of the home's market value as determined by the county assessor. Several factors influence this assessed value, including the home's location, size, age, and any improvements made. For homeowners in Duck, the property tax bill can vary significantly. The 25th percentile tax bill is $3,583, while the 75th percentile reaches $6,233. At the 90th percentile, homeowners might see tax bills as high as $7,597. This range reflects the diversity in property values and the corresponding tax implications. Comparatively, the national median property tax rate is 0.99%, offering a benchmark for understanding local tax burdens. For instance, the highest median tax bill in Duck's zip code 27949 is $3,959, which can be used to gauge the relative affordability of property taxes in this area. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Duck Tax Bill
$3,959
Average Dare County Tax Bill
$2,313
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Duck, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | $3,357 | $3,583 | $3,959 | $6,233 | $7,597 |
Source: Ownwell