Hyde County, North Carolina Property Taxes
The median property tax rate in Hyde County is 0.90%, which is slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $78,676, the typical annual property tax bill in Hyde County is $681, significantly below the national median of $2,690. Property taxes in Hyde County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Hyde County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Swan Quarter or another part of Hyde County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hyde County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$708
$657
Ownwell’s Hyde County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Hyde County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Hyde County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Hyde County, North Carolina
Property taxes in Hyde County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hyde County is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Hyde County set these rates annually, and they can vary significantly between different areas within the county. Each year, Hyde County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Hyde County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Ocracoke has one of the higher property tax rates in North Carolina at 0.91%, while the city of Belhaven boasts one of the lowest at 0.89%. Analyzing how Hyde County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Hyde County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hyde County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belhaven | 0.89% | 0.89% | 0.89% | 0.90% | 0.91% |
| Engelhard | 0.89% | 0.89% | 0.90% | 0.90% | 0.91% |
| Fairfield | 0.89% | 0.89% | 0.90% | 0.90% | 0.91% |
| Ocracoke | 0.90% | 0.91% | 0.91% | 0.92% | 0.92% |
| Pantego | 0.89% | 0.89% | 0.90% | 0.90% | 0.90% |
| Scranton | 0.89% | 0.89% | 0.90% | 0.90% | 0.92% |
| Swanquarter | 0.89% | 0.89% | 0.90% | 0.90% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Hyde County, North Carolina
In Hyde County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Hyde County Appraisal District. The assessed value, however, 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 in Hyde County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Hyde County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Hyde County, Ocracoke has the highest median tax bill at $2,439, while Engelhard has the lowest at $453.
Property Tax Assessment Values Across Hyde County, North Carolina
Source: Ownwell
$50,948
$159,903
$268,857
Average Hyde County Assessed Value
$78,676
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hyde County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belhaven | $13,369 | $36,896 | $84,796 | $162,620 | $251,462 |
| Engelhard | $13,110 | $26,634 | $50,948 | $128,386 | $286,633 |
| Fairfield | $18,058 | $34,616 | $67,866 | $151,182 | $334,746 |
| Ocracoke | $135,069 | $190,709 | $268,857 | $367,057 | $501,188 |
| Pantego | $11,284 | $44,873 | $95,768 | $135,382 | $177,710 |
| Scranton | $10,996 | $23,774 | $51,993 | $150,258 | $268,635 |
| Swanquarter | $13,242 | $31,326 | $65,410 | $137,773 | $280,531 |
Source: Ownwell
Property Tax Bills Across Hyde County, North Carolina
Property tax bills in Hyde County, NC are calculated based on the assessed value of a property, which is determined by the county tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Hyde County see a range of property tax bills, with the 25th percentile at $295 and the 75th percentile at $1898. The tax bill can go as high as $3123 for those in the 90th percentile. Comparatively, the national median property tax rate is 0.99%, which can provide context for understanding local rates. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, properties in Ocracoke have the highest median tax bill at $2439, while those in Engelhard have the lowest at $453. These variations can significantly impact homeowners, affecting monthly budgets and long-term financial planning. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Hyde County Tax Bill
$681
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hyde County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belhaven | $139 | $337 | $760 | $1,455 | $2,261 |
| Engelhard | $116 | $238 | $453 | $1,063 | $2,461 |
| Fairfield | $156 | $303 | $578 | $1,316 | $2,850 |
| Ocracoke | $1,213 | $1,740 | $2,439 | $3,319 | $4,584 |
| Pantego | $188 | $416 | $895 | $1,230 | $1,699 |
| Scranton | $98 | $211 | $466 | $1,343 | $2,404 |
| Swanquarter | $118 | $279 | $578 | $1,141 | $2,482 |
Source: Ownwell