New Hanover County, North Carolina Property Taxes
The median property tax rate in New Hanover County is 0.57%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in New Hanover County at $265,900, the typical annual property tax bill reaches $1,671, well below the national median of $2,690. Property taxes in New Hanover County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding New Hanover County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Wilmington or another part of New Hanover County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Hanover County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,516
$1,406
Ownwell’s New Hanover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in New Hanover with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in New Hanover to estimate your property tax bill. This insightful tool 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 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 New Hanover County, North Carolina
Property taxes in New Hanover play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in New Hanover is 0.57%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within New Hanover set these rates annually, and they can vary significantly between different areas within the county. Each year, New Hanover 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 New Hanover's effective property tax rate with other areas in North Carolina and the national median. For comparison, the city of Kure Beach has one of the higher property tax rates in North Carolina at 0.72%, while the city of Wrightsville Beach boasts one of the lowest at 0.54%. Analyzing how New Hanover's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average New Hanover County Tax Rate
0.57%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Hanover County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carolina Beach | 0.66% | 0.66% | 0.66% | 0.67% | 0.67% |
| Castle Hayne | 0.42% | 0.54% | 0.55% | 0.56% | 0.58% |
| Kure Beach | 0.69% | 0.72% | 0.72% | 0.72% | 0.72% |
| Wilmington | 0.53% | 0.54% | 0.56% | 0.84% | 0.85% |
| Wrightsville Beach | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across New Hanover County, North Carolina
In New Hanover 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 New Hanover 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 New Hanover 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. For instance, Wrightsville Beach has the highest median tax bill at $4,990, while Castle Hayne has the lowest at $1,060. Being aware of these valuation processes in New Hanover County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across New Hanover County, North Carolina
Source: Ownwell
$174,100
$558,250
$942,400
Average New Hanover County Assessed Value
$265,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Hanover County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carolina Beach | $207,700 | $265,550 | $362,400 | $479,950 | $632,100 |
| Castle Hayne | $99,850 | $151,850 | $194,900 | $276,275 | $405,150 |
| Kure Beach | $274,900 | $337,425 | $462,900 | $609,725 | $840,370 |
| Wilmington | $137,900 | $186,400 | $253,200 | $364,300 | $532,600 |
| Wrightsville Beach | $319,360 | $653,300 | $942,400 | $1,435,700 | $2,476,840 |
Source: Ownwell
Property Tax Bills Across New Hanover County, North Carolina
In New Hanover County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value, reflecting current real estate trends. Homeowners in this county face varying tax bills, with the 25th percentile paying approximately $1,167, while those in the 75th percentile see bills around $2,572. The tax bill can go as high as $3,996 for those in the 90th percentile. Several factors influence these tax bills, including the property's location, size, and condition. For instance, properties in Wrightsville Beach have the highest median tax bill at $4,990, contrasting sharply with Castle Hayne's lowest median tax bill of $1,060. These variations impact homeowners significantly, as higher property taxes can affect overall affordability and the decision to buy or sell property. Compared to the national median property tax rate of 0.99%, New Hanover County's tax rates reflect the local economic conditions and property values.
Average New Hanover County Tax Bill
$1,671
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across New Hanover County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carolina Beach | $1,254 | $1,681 | $2,345 | $3,108 | $4,059 |
| Castle Hayne | $471 | $815 | $1,060 | $1,459 | $2,046 |
| Kure Beach | $1,598 | $2,280 | $3,192 | $4,169 | $5,564 |
| Wilmington | $866 | $1,155 | $1,604 | $2,419 | $3,627 |
| Wrightsville Beach | $1,701 | $3,369 | $4,990 | $7,523 | $13,372 |
Source: Ownwell