Hilton Head Island, North Carolina Property Taxes
The median property tax rate in Hilton Head Island, NC is 0.40%, 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 $1,817,050, the typical annual property tax bill in Hilton Head Island reaches $7,268, well above the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hilton Head Island'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 Hilton Head Island or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hilton Head Island, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$7,268
Ownwell’s Hilton Head Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hilton Head Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hilton Head Island 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 Hilton Head Island, North Carolina
Property taxes in Hilton Head Island, 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 Hilton Head Island is 0.40%, significantly lower than the U.S. national median of 0.99%. Local government entities within Hilton Head Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hilton Head Island 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 Hilton Head Island's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 29926 zip code has the highest median property tax rate of 0.40%, while the same zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Hilton Head Island provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hilton Head Island Tax Rate
0.40%
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 Hilton Head Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29926 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 29928 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Hilton Head Island, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hilton Head Island, NC. 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 Hilton Head Island, 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 zip code with the highest median tax bill is 29928 at $8,483, while the lowest median tax bill is $7,268 in the 29926 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hilton Head Island, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Hilton Head Island Assessed Value
$1,817,050
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 Hilton Head Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29926 | $1,097,570 | $1,367,375 | $1,817,050 | $2,266,725 | $2,536,530 |
| 29928 | $841,420 | $1,321,150 | $2,120,700 | $2,920,250 | $3,399,980 |
Source: Ownwell
Property Tax Bills Across Hilton Head Island, North Carolina
In Hilton Head Island, Avery County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local tax assessors who evaluate the property's market value and apply an assessment ratio to it. Once the assessed value is established, the tax rate, often expressed as a percentage, is applied to calculate the annual tax bill. Factors influencing the tax bill include property location, size, and market conditions. For instance, the median home price in Hilton Head Island is $1,817,050, leading to substantial tax bills. Homeowners in the 25th percentile pay around $3,275, while those in the 75th percentile face bills of approximately $11,869. The highest median tax bill in the area is $8,483 in the 29928 zip code, whereas the lowest is $7,268 in the 29926 zip code. These property tax bills can significantly impact homeowners, often influencing decisions about buying, selling, or renovating properties. The national median property tax rate is 0.99%, which helps put these figures into perspective.
Average Hilton Head Island Tax Bill
$7,268
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hilton Head Island, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29926 | $4,390 | $5,470 | $7,268 | $9,067 | $10,146 |
| 29928 | $3,366 | $5,285 | $8,483 | $11,681 | $13,600 |
Source: Ownwell