Kure Beach, North Carolina Property Taxes
The median property tax rate in Kure Beach, NC is 0.72%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Kure Beach at $462,900, the typical annual property tax bill amounts to $3,192, surpassing the national median of $2,690. Property taxes in Kure Beach are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kure Beach'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 Kure Beach or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kure Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$3,333
$3,093
Ownwell’s Kure Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kure Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kure Beach 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 Kure Beach, North Carolina
Property taxes in Kure Beach, 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 Kure Beach is 0.72%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Kure Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kure Beach 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 Kure Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28449 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Kure Beach provides valuable insights into the varying tax landscape across New Hanover County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kure Beach Tax Rate
0.72%
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 Kure Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28449 | 0.69% | 0.72% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Kure Beach, North Carolina
In Kure Beach, 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 New Hanover 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 Kure Beach, 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 Kure Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kure Beach is $462,900, with tax bills ranging from $2,280 at the 25th percentile to $5,564 at the 90th percentile. The highest and lowest median tax bill in the area is $3,192, found in zip code 28449.
Property Tax Assessment Values Across Kure Beach, North Carolina
Source: Ownwell
$174,100
$558,250
$942,400
Average Kure Beach Assessed Value
$462,900
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 Kure Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28449 | $274,900 | $337,425 | $462,900 | $609,725 | $840,370 |
Source: Ownwell
Property Tax Bills Across Kure Beach, North Carolina
In Kure Beach, located 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. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Kure Beach, the median home price is $462,900. The property tax rate in New Hanover County is applied to this assessed value to generate the tax bill. For example, homeowners at the 25th percentile pay around $2,280 annually, while those at the 75th percentile face a tax bill of approximately $4,169. At the higher end, the 90th percentile sees tax bills reaching up to $5,564. This variation in tax bills demonstrates how the assessed value of a property significantly impacts the amount homeowners are required to pay. While the national median property tax rate is 0.99%, Kure Beach's tax bills reflect the unique property values and tax rates of the area, influencing the financial burden on its residents.
Average Kure Beach Tax Bill
$3,192
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 Kure Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28449 | $1,598 | $2,280 | $3,192 | $4,169 | $5,564 |
Source: Ownwell