North Myrtle Beach, North Carolina Property Taxes
The median property tax rate in North 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 $303,500 in North Myrtle Beach, the typical annual property tax bill amounts to $1,214, well below the national median of $2,690. Property taxes in North Myrtle Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding North Myrtle Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in North Myrtle Beach 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
North 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
$1,214
Ownwell’s North Myrtle Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Myrtle Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North 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 North Myrtle Beach, North Carolina
Property taxes in North Myrtle Beach, NC, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Myrtle Beach is 0.40%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within North Myrtle Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, North 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 North Myrtle Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 29582 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 North 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 North 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 North Myrtle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29582 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across North Myrtle Beach, North Carolina
In North 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 North 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. The median home price in North Myrtle Beach is $303,500, with tax bills ranging from $925 at the 25th percentile to $1,677 at the 90th percentile. The highest and lowest median tax bills are both $1,214 in the 29582 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 North Myrtle Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average North Myrtle Beach Assessed Value
$303,500
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 North Myrtle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29582 | $187,820 | $231,200 | $303,500 | $375,800 | $419,180 |
Source: Ownwell
Property Tax Bills Across North Myrtle Beach, North Carolina
In North Myrtle Beach, 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's appraisal district, which evaluates the market value of homes. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in North Myrtle Beach is $303,500, which provides a baseline for understanding tax calculations in the area. The property tax bill can vary significantly depending on the value of the home. For instance, the 25th percentile tax bill is $925, while the 75th percentile tax bill is $1,503. At the 90th percentile, homeowners might see tax bills as high as $1,677. The highest median tax bill recorded in the area is $1,214 in the 29582 zip code, which is also the lowest median tax bill, indicating a consistent tax rate across different properties. These property taxes directly impact homeowners by influencing their annual housing costs, thus playing a crucial role in financial planning and home affordability.
Average North Myrtle Beach Tax Bill
$1,214
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across North Myrtle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29582 | $751 | $925 | $1,214 | $1,503 | $1,677 |
Source: Ownwell