Southport, North Carolina Property Taxes
The median property tax rate in Southport, NC is 0.42%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Southport at $391,650, the typical annual property tax bill reaches $1,823, which is significantly below the national median of $2,690. Property taxes in Southport are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Southport'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 Southport 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
Southport, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$1,645
$1,526
Ownwell’s Southport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southport 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 Southport, North Carolina
Property taxes in Southport, 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 Southport is 0.42%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Southport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southport 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 Southport's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28461 has both the highest and lowest median property tax rate of 0.42%. Understanding how these cities compare with Southport provides valuable insights into the varying tax landscape across Brunswick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Southport Tax Rate
0.42%
Average Brunswick County Tax Rate
0.43%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southport, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28461 | 0.32% | 0.37% | 0.42% | 0.57% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Southport, North Carolina
In Southport, 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 Brunswick 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 Southport, 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. The median home price in Southport is $391,650, with tax bills ranging from $1,174 at the 25th percentile to $3,515 at the 90th percentile. The zip code 28461 has both the highest and lowest median tax bill of $1,823. 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 Southport, North Carolina
Source: Ownwell
$90,960
$529,140
$967,320
Average Southport Assessed Value
$391,650
Average Brunswick County Assessed Value
$338,175
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Southport, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28461 | $180,438 | $271,465 | $391,650 | $612,482 | $804,610 |
Source: Ownwell
Property Tax Bills Across Southport, North Carolina
In Southport, Brunswick County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. For context, the national median property tax rate is 0.99%. Factors such as property size, location, and market conditions play a role in the assessed value. Homeowners in Southport can expect a wide range of tax bills. For instance, the tax bill at the 25th percentile is $1,174, while at the 75th percentile, it reaches $2,606. The 90th percentile tax bill is even higher at $3,515. The median home price in Southport is $391,650, which influences the overall tax burden. The highest and lowest median tax bills in the area both stand at $1,823, specifically in the 28461 zip code. These property taxes can significantly impact homeowners' annual expenses, making it crucial to understand the local tax landscape.
Average Southport Tax Bill
$1,823
Average Brunswick County Tax Bill
$1,377
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Southport, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28461 | $626 | $1,174 | $1,823 | $2,606 | $3,515 |
Source: Ownwell