Carolina Beach, North Carolina Property Taxes
The median property tax rate in Carolina Beach, NC is 0.67%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $362,400 in Carolina Beach, the typical annual property tax bill amounts to $2,345, falling below the national median of $2,690. Property taxes in Carolina Beach are calculated based on the tax assessed value, which often is less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Carolina Beach'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 Carolina Beach 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
Carolina Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$2,428
Ownwell’s Carolina Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carolina Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carolina 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 Carolina Beach, North Carolina
Property taxes in Carolina 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 Carolina Beach is 0.67%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Carolina Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carolina 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 Carolina Beach's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28428 has both the highest and lowest median property tax rate of 0.67%. Understanding how these areas compare with Carolina Beach provides valuable insights into the varying tax landscape across New Hanover County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carolina Beach Tax Rate
0.67%
Average New Hanover County Tax Rate
0.57%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carolina Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28428 | 0.66% | 0.66% | 0.66% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Carolina Beach, North Carolina
In Carolina 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 New Hanover 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 Carolina 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 in Carolina Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,345, found in the 28428 zip code.
Property Tax Assessment Values Across Carolina Beach, North Carolina
Source: Ownwell
$174,100
$558,250
$942,400
Average Carolina Beach Assessed Value
$362,400
Average New Hanover County Assessed Value
$265,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carolina Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28428 | $207,700 | $265,550 | $362,400 | $479,950 | $632,100 |
Source: Ownwell
Property Tax Bills Across Carolina Beach, North Carolina
In Carolina Beach, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $362,400, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,681, while the 75th percentile tax bill reaches approximately $3,108. At the higher end, the 90th percentile tax bill can go up to $4,059. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners in Carolina Beach, understanding these factors is crucial, as property taxes are a significant part of homeownership costs. Compared to the national median property tax rate of 0.99%, the tax rates in Carolina Beach can have a substantial impact, making it essential for homeowners to stay informed about their property assessments and potential tax liabilities.
Average Carolina Beach Tax Bill
$2,345
Average New Hanover County Tax Bill
$1,671
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Carolina Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28428 | $1,254 | $1,681 | $2,345 | $3,108 | $4,059 |
Source: Ownwell