Myrtle Beach, North Carolina Property Taxes
The median property tax rate in Myrtle 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 a median home value of $80,000 in Myrtle Beach, the typical annual property tax bill is $320, well below the national median of $2,690. Property taxes in Myrtle Beach are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Myrtle 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 Myrtle 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
Myrtle Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$320
Ownwell’s Myrtle Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Myrtle Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Myrtle 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 Myrtle Beach, North Carolina
Property taxes in Myrtle 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 Myrtle Beach is 0.50%, higher than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Myrtle Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myrtle 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 Myrtle Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, 37011 has the highest median property tax rate of 0.70%, while 37011 has the lowest median tax rate of 0.50%. Understanding how these cities compare with Myrtle 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 Myrtle 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 Myrtle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29577 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 29588 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Myrtle Beach, North Carolina
In Myrtle 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. In Myrtle 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 Myrtle Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $320, found in the 29577 zip code.
Property Tax Assessment Values Across Myrtle Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Myrtle Beach Assessed Value
$80,000
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 Myrtle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29577 | $19,200 | $42,000 | $80,000 | $80,000 | $80,000 |
| 29588 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Myrtle Beach, North Carolina
Property tax bills in Myrtle Beach, Avery County, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor's office and reflects the market value of the property. In Myrtle Beach, the median home price is $80,000. The local tax rate is applied to this assessed value to calculate the annual property tax bill. For example, homeowners in Myrtle Beach can expect a tax bill ranging from $168 at the 25th percentile to $320 at the 75th and 90th percentiles. This means that most homeowners will see a tax bill around $320, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how property tax bills are calculated helps homeowners in Myrtle Beach plan their finances better and ensures they are prepared for these annual expenses.
Average Myrtle Beach Tax Bill
$320
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Myrtle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29577 | $77 | $168 | $320 | $320 | $320 |
| 29588 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell