Supply, North Carolina Property Taxes
The median property tax rate in Supply, NC is 0.43%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value in Supply, the typical annual property tax bill is around $700, well below the national median of $2,690. Property taxes in Supply are based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Supply's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Supply or another part of Brunswick County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Supply, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$768
Ownwell’s SUPPLY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SUPPLY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SUPPLY 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 Supply, North Carolina
Property taxes in Supply, 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 Supply is 0.43%, significantly lower than the U.S. national median of 0.99%. Local government entities within Supply set these rates annually, and they can vary across different neighborhoods. Each year, Supply 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 Supply's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28462 zip code has both the highest and lowest median property tax rate of 0.43%. Understanding how these areas compare with Supply 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 Supply Tax Rate
0.43%
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 Supply, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28462 | 0.28% | 0.33% | 0.43% | 0.58% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Supply, North Carolina
In Supply, 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 Assessment Office 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 Supply, 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. For example, the zip code 28462 has both the highest and lowest median tax bill at $700. Being aware of these valuation processes in Supply helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Supply Assessed Value
$178,510
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 Supply, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28462 | $24,296 | $43,625 | $178,510 | $502,195 | $875,520 |
Source: Ownwell
Property Tax Bills Across Supply, North Carolina
Property tax bills in Supply, located in Brunswick County, NC, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, and this percentage can vary. Supply's property tax rate is influenced by various factors, including local government budgets and public service funding needs. Homeowners in Supply face property tax bills that can vary widely. For instance, the 25th percentile tax bill is $241, while the 75th percentile tax bill reaches $1,731. At the higher end, the 90th percentile tax bill can be as much as $2,774. Comparatively, the national median property tax rate is 0.99%. For residents of Supply, understanding how these factors interplay can help in financial planning and anticipating future tax obligations. The highest and lowest median tax bills in the area are both $700, specifically in the 28462 zip code, highlighting some uniformity within certain parts of the region.
Average Supply Tax Bill
$700
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 Supply, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28462 | $177 | $241 | $700 | $1,731 | $2,774 |
Source: Ownwell