Belhaven, North Carolina Property Taxes
The median property tax rate in Belhaven, NC is 0.89%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $84,796 in Belhaven, the typical annual property tax bill amounts to $760, which is significantly lower than the national median of $2,690. Property taxes in Belhaven are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Belhaven'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 Belhaven or another part of Hyde County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belhaven, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$755
Ownwell’s Belhaven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belhaven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belhaven 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 Belhaven, North Carolina
Property taxes in Belhaven, 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 Belhaven is 0.89%, which is just below the U.S. national median of 0.99%. Local government entities within Belhaven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belhaven 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 Belhaven's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27810 has both the highest and lowest median property tax rate in the region, both at 0.89%. Understanding how these areas compare with Belhaven provides valuable insights into the varying tax landscape across Hyde County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belhaven Tax Rate
0.89%
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 Belhaven, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27810 | 0.89% | 0.89% | 0.89% | 0.90% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Belhaven, North Carolina
In Belhaven, 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 Hyde 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 Belhaven, 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 Belhaven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27810 has the highest and lowest median tax bill at $760, reflecting the uniformity in property tax assessments in the area.
Property Tax Assessment Values Across Belhaven, North Carolina
Source: Ownwell
$50,948
$159,903
$268,857
Average Belhaven Assessed Value
$84,796
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 Belhaven, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27810 | $13,369 | $36,896 | $84,796 | $162,620 | $251,462 |
Source: Ownwell
Property Tax Bills Across Belhaven, North Carolina
In Belhaven, located in Hyde County, NC, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local tax assessor and is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied. For example, with a median home price of $84,796, homeowners can expect their property tax bills to vary significantly. At the 25th percentile, tax bills are around $337, while at the 75th percentile, they can reach $1,455. The highest tax bills, found at the 90th percentile, are approximately $2,261. These variations depend on factors such as property size, location, and improvements. For homeowners, this means that understanding how their property's assessed value compares to market value and being aware of the local tax rate is crucial. Comparing these figures to the national median property tax rate of 0.99% can help homeowners gauge the relative affordability of their property taxes in Belhaven.
Average Belhaven Tax Bill
$760
Average Hyde County Tax Bill
$681
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Belhaven, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27810 | $139 | $337 | $760 | $1,455 | $2,261 |
Source: Ownwell