N Topsail Beach, North Carolina Property Taxes
The median property tax rate in N Topsail Beach, NC is 1.09%, higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in N Topsail Beach at $344,172, the typical annual property tax bill reaches $3,692, surpassing the national median of $2,690. Property taxes in N Topsail Beach are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence exemption. Understanding N Topsail 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 N Topsail 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
N Topsail Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$3,751
Ownwell’s N Topsail Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in N Topsail Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in N Topsail 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 N Topsail Beach, North Carolina
Property taxes in North Topsail Beach, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Topsail Beach is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within North Topsail Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Topsail 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 North Topsail Beach's effective property tax rate to other areas in Onslow County and the national median. For comparison, the zip code 28460 has the highest median property tax rate of 1.09%, while also having the lowest median tax rate of 1.09%. Understanding how these areas compare with North Topsail Beach provides valuable insights into the varying tax landscape across Onslow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average N Topsail Beach Tax Rate
1.09%
Average Onslow County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across N Topsail Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28460 | 1.08% | 1.08% | 1.08% | 1.09% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across N Topsail Beach, North Carolina
In North Topsail 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 Onslow 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 North Topsail 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 North Topsail Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28460 has both the highest and lowest median tax bill at $3,692, offering a clear benchmark for property owners.
Property Tax Assessment Values Across N Topsail Beach, North Carolina
Source: Ownwell
$90,896
$331,440
$571,984
Average N Topsail Beach Assessed Value
$344,172
Average Onslow County Assessed Value
$189,006
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across N Topsail Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28460 | $155,000 | $247,907 | $344,172 | $573,368 | $854,505 |
Source: Ownwell
Property Tax Bills Across N Topsail Beach, North Carolina
In North Topsail Beach, Onslow County, NC, property tax bills are determined based on the assessed value of a home, which is derived from the current market value. The median home price in this area is $344,172. The property tax rate is applied to this assessed value to calculate the annual tax bill. For example, homeowners in the 25th percentile can expect a tax bill around $2,662, while those in the 75th percentile might see bills closer to $6,197. At the 90th percentile, tax bills can reach up to $9,273. Factors influencing these tax bills include the property's location, size, and any improvements made. These taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, North Topsail Beach homeowners face a varied range of tax bills, reflecting the diverse property values in the area. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average N Topsail Beach Tax Bill
$3,692
Average Onslow County Tax Bill
$1,414
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across N Topsail Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28460 | $1,682 | $2,662 | $3,692 | $6,197 | $9,273 |
Source: Ownwell