Miramar Beach, North Carolina Property Taxes
The median property tax rate in Miramar Beach, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Miramar Beach at $195,000, the typical annual property tax bill amounts to $780, well below the national median of $2,690. Property taxes in Miramar Beach 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 Miramar 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 Miramar 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
Miramar Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$780
Ownwell’s Miramar Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miramar Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miramar 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 Miramar Beach, North Carolina
Property taxes in Miramar Beach, North Carolina, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Miramar Beach is 0.40%, which is significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Miramar Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miramar 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 Miramar Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, Avery County has the highest median property tax rate of 0.40%, while other regions may have different rates. Understanding how these areas compare with Miramar Beach 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 Miramar Beach 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 Miramar Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32550 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Miramar Beach, North Carolina
In Miramar 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 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. 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 Miramar Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $780 in zip code 32550.
Property Tax Assessment Values Across Miramar Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Miramar Beach Assessed Value
$195,000
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 Miramar Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32550 | $195,000 | $195,000 | $195,000 | $195,000 | $195,000 |
Source: Ownwell
Property Tax Bills Across Miramar Beach, North Carolina
In Miramar Beach, located in Avery County, NC, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For homeowners in this area, the median home price is $195,000. Property taxes are then calculated by applying the local tax rate to this assessed value. In Miramar Beach, the tax bills are fairly uniform, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $780. This suggests a consistent tax rate across different property values. Compared to the national median property tax rate of 0.99%, Miramar Beach's property tax rate seems to offer a predictable and stable tax environment for homeowners. This stability in property tax bills can make financial planning easier for residents, as they can expect a consistent amount each year.
Average Miramar Beach Tax Bill
$780
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Miramar Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32550 | $780 | $780 | $780 | $780 | $780 |
Source: Ownwell