Emerald Isle, North Carolina Property Taxes
The median property tax rate in Emerald Isle, NC is 0.59%, 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 Emerald Isle at $377,945, the typical annual property tax bill reaches $2,206, which is below the national median of $2,690. Property taxes in Emerald Isle 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 Emerald Isle'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 Emerald Isle 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
Emerald Isle, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$2,230
Ownwell’s Emerald Isle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emerald Isle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emerald Isle 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 Emerald Isle, North Carolina
Property taxes in Emerald Isle, 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 Emerald Isle is 0.59%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Emerald Isle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emerald Isle 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 Emerald Isle's effective property tax rate to other areas in Carteret County and the national median. For comparison, the 28594 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Emerald Isle provides valuable insights into the varying tax landscape across Carteret County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emerald Isle Tax Rate
0.59%
Average Carteret County Tax Rate
0.55%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emerald Isle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28594 | 0.54% | 0.56% | 0.59% | 0.62% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Emerald Isle, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Emerald Isle, Carteret County, NC. 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 local 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 Emerald Isle, 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 Emerald Isle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Emerald Isle is $2,206, with the highest and lowest median tax bills both found in zip code 28594.
Property Tax Assessment Values Across Emerald Isle, North Carolina
Source: Ownwell
$70,790
$314,164
$557,538
Average Emerald Isle Assessed Value
$377,945
Average Carteret County Assessed Value
$225,462
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emerald Isle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28594 | $184,760 | $282,150 | $377,945 | $552,522 | $793,440 |
Source: Ownwell
Property Tax Bills Across Emerald Isle, North Carolina
In Emerald Isle, located in Carteret County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Emerald Isle can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $1,721 and the 75th percentile reaching up to $3,121. The highest property tax bill in the area hits $4,456, indicating a considerable range depending on property value and other factors. The median home price in Emerald Isle is $377,945, which contributes to the overall tax bill calculation. While the national median property tax rate is 0.99%, local rates and assessed values can cause variations in tax bills. For homeowners, understanding these factors is crucial as they directly impact annual expenses and the affordability of maintaining a property in this picturesque coastal city.
Average Emerald Isle Tax Bill
$2,206
Average Carteret County Tax Bill
$1,125
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Emerald Isle, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28594 | $1,197 | $1,721 | $2,206 | $3,121 | $4,456 |
Source: Ownwell