Dover, North Carolina Property Taxes
The median property tax rate in Dover, NC is 0.56%, 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 Dover of $106,165, the typical annual property tax bill amounts to $622, which is well below the national median of $2,690. Property taxes in Dover are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Dover'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 Dover or another part of Craven County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dover, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$595
Ownwell’s Dover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dover 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 Dover, North Carolina
Property taxes in Dover, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dover is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Dover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dover 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 Dover's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28526 zip code has the highest median property tax rate of 0.56%, while the 28526 zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Dover provides valuable insights into the varying tax landscape across Craven County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dover Tax Rate
0.56%
Average Craven County Tax Rate
0.66%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dover, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28526 | 0.51% | 0.54% | 0.56% | 0.66% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Dover, North Carolina
In Dover, 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 Craven 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. 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 Dover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Dover, the zip code with the highest median tax bill is 28526, with a median tax bill of $622, which is the same as the lowest median tax bill in the same zip code.
Average Dover Assessed Value
$106,165
Average Craven County Assessed Value
$192,005
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dover, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28526 | $16,200 | $51,838 | $106,165 | $156,075 | $220,494 |
Source: Ownwell
Property Tax Bills Across Dover, North Carolina
In Dover, Craven County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Dover is $106,165. To calculate the property tax, the assessed value is multiplied by the local property tax rate. This rate is applied uniformly, but individual tax bills can vary significantly. For instance, the 25th percentile tax bill is $314, while the 75th percentile tax bill is $941, and the 90th percentile tax bill reaches $1,273. These variations are influenced by factors such as the specific neighborhood, property size, and any applicable exemptions. When compared to the national median property tax rate of 0.99%, Dover's property tax bills reflect the local economic environment and property values. Homeowners in Dover need to understand these factors, as they directly affect their annual financial obligations and the overall affordability of owning property in this region.
Average Dover Tax Bill
$622
Average Craven County Tax Bill
$1,328
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Dover, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28526 | $98 | $314 | $622 | $941 | $1,273 |
Source: Ownwell