Hampstead, North Carolina Property Taxes
The median property tax rate in Hampstead, NC is 0.14%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $283,000 in Hampstead, the typical annual property tax bill amounts to $600, which is well below the national median of $2,690. Property taxes in Hampstead are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hampstead's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hampstead or another part of Avery County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hampstead, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.14%
Estimate Property Tax Bill
$396
$368
Ownwell’s Hampstead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hampstead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hampstead 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 Hampstead, North Carolina
Property taxes in Hampstead, 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 Hampstead is 0.68%, higher than the North Carolina state median of 0.70% but lower than the U.S. national median of 0.99%. Local government entities within Hampstead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hampstead 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 Hampstead's effective property tax rate to other counties in North Carolina and the national median. For comparison, 28301 has the highest median property tax rate of 1.21%, while 28115 has the lowest median tax rate of 0.70%. Understanding how these cities compare with Hampstead provides valuable insights into the varying tax landscape across Pender County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hampstead Tax Rate
0.14%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hampstead, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28443 | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% |
Source: Ownwell
Property Tax Assessment Values Across Hampstead, North Carolina
In Hampstead, 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 Avery 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 Hampstead, 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. The median home price in Hampstead is $283,000, with the highest and lowest median tax bills both at $600, specifically in the 28443 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hampstead, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Hampstead Assessed Value
$283,000
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hampstead, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28443 | $160,600 | $206,500 | $283,000 | $359,500 | $405,400 |
Source: Ownwell
Property Tax Bills Across Hampstead, North Carolina
In Hampstead, located in Avery County, NC, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homes in Hampstead, the median home price is $283,000. Despite variations in property values, the tax bills remain consistent across various percentiles, with the 25th, 75th, and 90th percentiles all having a tax bill of $600. This uniformity in tax bills is quite unusual compared to the national median property tax rate of 0.99%. The relatively low and consistent tax bills in Hampstead can be a significant advantage for homeowners, providing predictability and affordability. It ensures that homeowners are not overly burdened by property taxes, making it an attractive location for potential buyers. The highest and lowest median tax bills in the area are both $600, indicating a stable tax environment.
Average Hampstead Tax Bill
$600
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hampstead, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28443 | $600 | $600 | $600 | $600 | $600 |
Source: Ownwell