Ocean Isle Beach, North Carolina Property Taxes
The median property tax rate in Ocean Isle Beach, NC is 0.43%, 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 Ocean Isle Beach at $482,900, the typical annual property tax bill is $2,059, which is below the national median of $2,690. Property taxes in Ocean Isle 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 Ocean Isle 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 Ocean Isle 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
Ocean Isle Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$2,076
$1,927
Ownwell’s Ocean Isle Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ocean Isle Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ocean Isle 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 Ocean Isle Beach, North Carolina
Property taxes in Ocean Isle 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 Ocean Isle Beach is 0.43%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Ocean Isle Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ocean Isle 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 Ocean Isle Beach's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 28469 has both the highest and lowest median property tax rate of 0.43%. Understanding how these figures compare with Ocean Isle 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 Ocean Isle Beach Tax Rate
0.43%
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 Ocean Isle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28469 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Ocean Isle Beach, North Carolina
In Ocean Isle 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 Ocean Isle 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 Ocean Isle Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28469 has both the highest and lowest median tax bills, each at $2059.
Property Tax Assessment Values Across Ocean Isle Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Ocean Isle Beach Assessed Value
$482,900
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 Ocean Isle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28469 | $482,900 | $482,900 | $482,900 | $482,900 | $482,900 |
Source: Ownwell
Property Tax Bills Across Ocean Isle Beach, North Carolina
In Ocean Isle Beach, located in Avery County, NC, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and reflects the market value of the home. The median home price in Ocean Isle Beach is $482,900. Property tax rates in this area are applied to the assessed value to determine the annual tax bill. For Ocean Isle Beach, the tax bill at the 25th, 75th, and 90th percentiles is consistently $2,059, which is notably higher than the national median property tax rate of 0.99%. This indicates a relatively uniform tax burden across different property values within this locality. Homeowners in Ocean Isle Beach should be aware that their tax bills are directly influenced by the market value of their property and the local tax rate. The consistent tax bill amounts suggest a standardized approach to property tax assessments in this region, impacting homeowners' annual financial planning.
Average Ocean Isle Beach Tax Bill
$2,059
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ocean Isle Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28469 | $2,059 | $2,059 | $2,059 | $2,059 | $2,059 |
Source: Ownwell