Nags Head, North Carolina Property Taxes
The median property tax rate in Nags Head, NC is 0.73%, notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Nags Head at $418,416, the typical annual property tax bill amounts to $2,570, which is still below the national median of $2,690. Property taxes in Nags Head 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 Nags Head'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 Nags Head 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
Nags Head, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$3,054
Ownwell’s Nags Head Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nags Head with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nags Head 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 Dare County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Nags Head, North Carolina
Property taxes in Nags Head, 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 Nags Head is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Nags Head set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nags Head 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 Nags Head's effective property tax rate to other areas in Dare County and the national median. For comparison, the 27959 zip code has the highest median property tax rate of 0.73%, while also having the lowest median tax rate of 0.73%. Understanding how these cities compare with Nags Head 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 Nags Head Tax Rate
0.73%
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 Nags Head, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27959 | 0.33% | 0.40% | 0.73% | 0.74% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Nags Head, North Carolina
In Nags Head, 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 Nags Head, 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 Nags Head helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 27959, with a median tax bill of $2,570.
Property Tax Assessment Values Across Nags Head, North Carolina
Source: Ownwell
$167,600
$362,100
$556,600
Average Nags Head Assessed Value
$418,416
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 Nags Head, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27959 | $271,800 | $325,444 | $418,416 | $598,900 | $1,049,560 |
Source: Ownwell
Property Tax Bills Across Nags Head, North Carolina
In Nags Head, Dare County, NC, property tax bills are calculated based on the assessed value of the 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 instance, with a median home price of $418,416, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Several factors influence the tax bill, including property size, location, and any improvements made. In Nags Head, tax bills can range widely, with the 25th percentile at $1,730 and the 75th percentile at $3,981. At the 90th percentile, tax bills can go up to $6,896. These figures highlight the variability in property tax burdens within the area. Compared to the national median property tax rate of 0.99%, homeowners in Nags Head may find their tax bills to be relatively moderate or high, depending on their property's assessed value and specific circumstances. This variability in tax bills significantly impacts homeowners' financial planning and budgeting.
Average Nags Head Tax Bill
$2,570
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 Nags Head, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27959 | $1,153 | $1,730 | $2,570 | $3,981 | $6,896 |
Source: Ownwell