Southern Shores, North Carolina Property Taxes
The median property tax rate in Southern Shores, NC is 0.64%, 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 Southern Shores at $556,600, the typical annual property tax bill reaches $3,821, exceeding the national median of $2,690. Property taxes in Southern Shores 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 Southern Shores' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Southern Shores or another part of Dare County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Southern Shores, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$3,562
Ownwell’s Southern Shores Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick and easy way to estimate their annual property taxes in Southern Shores. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Southern Shores to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax obligations. For those curious about neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Southern Shores, North Carolina
Property taxes in Southern Shores, 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 Southern Shores is 0.64%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Southern Shores set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southern Shores 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 Southern Shores' 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 same 27949 zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Southern Shores 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 Southern Shores 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 Southern Shores, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | 0.64% | 0.64% | 0.64% | 0.69% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Southern Shores, North Carolina
In Southern Shores, 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 Southern Shores, 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 Southern Shores helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill in the 27949 zip code stands at $3,821, reflecting both the highest and lowest median tax bills in the area.
Property Tax Assessment Values Across Southern Shores, North Carolina
Source: Ownwell
$167,600
$362,100
$556,600
Average Southern Shores Assessed Value
$556,600
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 Southern Shores, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | $455,629 | $556,600 | $556,600 | $582,842 | $794,199 |
Source: Ownwell
Property Tax Bills Across Southern Shores, North Carolina
In Southern Shores, Dare County, NC, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in Southern Shores is $556,600. Homeowners can expect their property tax bill to fall within a range, influenced by factors such as property location and home value. For instance, the tax bill at the 25th percentile is $2,993, while at the 75th percentile, it rises to $5,130. At the 90th percentile, homeowners might see a tax bill as high as $9,404. These tax bills are determined by multiplying the assessed value of the property by the local tax rate. This process ensures that tax contributions are proportional to property values, which can significantly impact homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Southern Shores' property tax rates might represent a higher or lower financial burden, depending on individual property assessments and local tax policies.
Average Southern Shores Tax Bill
$3,821
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 Southern Shores, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27949 | $2,573 | $2,993 | $3,821 | $5,130 | $9,404 |
Source: Ownwell