Point Harbor, North Carolina Property Taxes
The median property tax rate in Point Harbor, NC is 0.65%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $190,250, the typical annual property tax bill in Point Harbor is $1,234, which is below the national median of $2,690. Property taxes in Point Harbor 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 Point Harbor'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 Point Harbor 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
Point Harbor, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,237
$1,148
Ownwell’s Point Harbor Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Point Harbor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Point Harbor to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Currituck County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Point Harbor, North Carolina
Property taxes in Point Harbor, North Carolina are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Point Harbor is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Point Harbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point Harbor 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 Point Harbor's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27964 zip code has the highest median property tax rate of 0.65%, while the 27964 zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Point Harbor provides valuable insights into the varying tax landscape across Currituck County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Point Harbor Tax Rate
0.65%
Average Currituck County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Point Harbor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27964 | 0.56% | 0.59% | 0.65% | 0.73% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Point Harbor, North Carolina
In Point Harbor, 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 Currituck 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 Point Harbor, 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 Point Harbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,234, found in the zip code 27964.
Property Tax Assessment Values Across Point Harbor, North Carolina
Source: Ownwell
$97,200
$300,600
$504,000
Average Point Harbor Assessed Value
$190,250
Average Currituck County Assessed Value
$330,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Point Harbor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27964 | $65,260 | $108,425 | $190,250 | $340,950 | $561,490 |
Source: Ownwell
Property Tax Bills Across Point Harbor, North Carolina
In Point Harbor, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Currituck County tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Point Harbor can expect their property tax bills to vary significantly depending on their property's value. For instance, the 25th percentile tax bill is around $785, while those in the 75th percentile might see bills as high as $2,035. The top 10% of property tax bills can reach up to $3,393. These tax bills are influenced by multiple factors, including the property's location, size, and any improvements made. Compared to the national median property tax rate of 0.99%, Point Harbor's property taxes can be a significant financial consideration for homeowners. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Point Harbor Tax Bill
$1,234
Average Currituck County Tax Bill
$2,308
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Point Harbor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27964 | $495 | $785 | $1,234 | $2,035 | $3,393 |
Source: Ownwell