Waves, Dare County, North Carolina Property Taxes
Median WAVES, NC effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median WAVES, NC home value: $398,000
Median annual WAVES, NC tax bill: $2,396, $4 lower than the national median property tax bill of $2,400.
How are property taxes in Dare calculated?
Property taxes in WAVES, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding WAVES’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in WAVES, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Waves, Dare County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$2,428
$2,253
Property Tax Rates Across Waves, Dare County, North Carolina
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget for services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the annual process in a nutshell.
In WAVES, located in Dare County, NC, the effective property tax rate reflects this process. WAVES' property tax rate is 0.61%, which is considerably lower than the national median of 1.02%. This makes property ownership more affordable compared to many other parts of the country. Within North Carolina, WAVES shares its tax rate with other areas in Dare County, indicating a uniform approach to property taxes in this region. For property owners, this lower rate can translate into significant savings on their annual property tax bills, especially when compared to the national median property tax bill of $2400. Understanding these rates can help property owners make informed decisions and potentially save money on their property taxes.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Waves Tax Rate
0.61%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Dare County Tax Rate
0.64%
Median Effective North Carolina Tax Rate
0.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Waves, Dare County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27982 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Waves, Dare County, North Carolina
When examining property taxes in WAVES, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Dare County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Dare County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in WAVES.
For example, the median home price in WAVES is $398,000, with tax bills ranging significantly across the county. ZIP code 27982 has the highest median home price at $398,000.
Property Tax Assessment Values Across Waves, Dare County, North Carolina
Source: Ownwell
$167,600
$362,100
$556,600
Median Waves Market Value
$398,000
Median Dare County Market Value
$355,020
Median North Carolina Market Value
$197,136
Median United States Market Value
$235,294
Property Tax Assessment Values Across Waves, Dare County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27982 | $170,711 | $270,700 | $398,000 | $556,472 | $727,333 |
Source: Ownwell
Property Tax Bills Across Waves, Dare County, North Carolina
In WAVES, property tax bills are calculated based on the assessed value of a home. The local government determines this value, which is then multiplied by the tax rate set by the county. This results in the annual property tax bill. Homeowners in WAVES face a median property tax bill of $2,396, aligning closely with the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,637 and the 75th percentile reaching $3,413. Factors such as home improvements or changes in local tax rates can affect these values, impacting homeowners' financial planning.
Ownwell assists homeowners in WAVES by identifying potential savings on their property tax bills. Through a thorough analysis of the property's assessed value, Ownwell ensures homeowners are not overpaying. By filing appeals and exemptions, Ownwell can help reduce tax liabilities, offering peace of mind and financial relief. This service is essential for homeowners seeking to optimize their property tax expenses and ensure they are only paying their fair share.
Median Waves Tax Bill
$2,396
Median Dare County Tax Bill
$2,313
Median North Carolina Tax Bill
$1,615
Median United States Tax Bill
$2,400
Property Tax Bills Across Waves, Dare County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27982 | $1,003 | $1,637 | $2,396 | $3,413 | $4,397 |
Source: Ownwell