Kitty Hawk, North Carolina Property Taxes
The median property tax rate in Kitty Hawk, NC is 0.64%, which is 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 $465,324 in Kitty Hawk, the typical annual property tax bill amounts to $3,061, surpassing the national median of $2,690. Property taxes in Kitty Hawk are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Kitty Hawk'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 Kitty Hawk 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
Kitty Hawk, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$2,978
$2,764
Ownwell’s Kitty Hawk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kitty Hawk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kitty Hawk 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 Kitty Hawk, North Carolina
Property taxes in Kitty Hawk, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kitty Hawk is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Kitty Hawk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kitty Hawk 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 Kitty Hawk's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27949 zip code has the highest median property tax rate of 0.64%, while the 27949 zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Kitty Hawk provides valuable insights into the varying tax landscape across Dare County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kitty Hawk Tax Rate
0.64%
Average Dare County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kitty Hawk, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | 0.56% | 0.62% | 0.64% | 0.70% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Kitty Hawk, North Carolina
In Kitty Hawk, 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 Dare 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 Kitty Hawk, 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 Kitty Hawk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,061 in zip code 27949, and the lowest median tax bill is also $3,061 in the same zip code.
Property Tax Assessment Values Across Kitty Hawk, North Carolina
Source: Ownwell
$167,600
$362,100
$556,600
Average Kitty Hawk Assessed Value
$465,324
Average Dare County Assessed Value
$355,020
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kitty Hawk, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | $270,240 | $354,278 | $465,324 | $636,000 | $924,758 |
Source: Ownwell
Property Tax Bills Across Kitty Hawk, North Carolina
In Kitty Hawk, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the Dare County tax assessor. The assessed value considers factors such as the property's market value, size, location, and any improvements made. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For instance, the median home price in Kitty Hawk is $465,324, resulting in varying tax bills across different percentiles. Homeowners at the 25th percentile pay approximately $2,286, while those at the 75th percentile face around $4,157. At the 90th percentile, tax bills can reach up to $5,912. The highest median tax bill in the area is $3,061. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Kitty Hawk's rates reflect the unique economic and property value conditions of the region.
Average Kitty Hawk Tax Bill
$3,061
Average Dare County Tax Bill
$2,313
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Kitty Hawk, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | $1,587 | $2,286 | $3,061 | $4,157 | $5,912 |
Source: Ownwell