Wilmington, North Carolina Property Taxes
The median property tax rate in Wilmington, NC is 0.56%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $253,200 in Wilmington, the typical annual property tax bill is $1,604, which is well below the national median of $2,690. Property taxes in Wilmington are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Wilmington's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wilmington or another part of New Hanover County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilmington, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,418
$1,316
Ownwell’s Wilmington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes with just two key data points. By entering your property's estimated assessed value, the calculator uses Wilmington's median tax rate to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, making financial planning easier. For those interested in more detailed insights, scroll down to explore neighborhood-level trends. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Wilmington, North Carolina
Property taxes in Wilmington, NC, are essential for funding key local services, including public schools, road maintenance, and emergency services. The median tax rate in Wilmington is 0.56%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Wilmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmington 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 Wilmington's effective property tax rate to other areas in New Hanover County and the national median. For comparison, the 28401 zip code has the highest median property tax rate of 0.85%, while the 28411 zip code has the lowest median tax rate of 0.54%. Understanding how these areas compare with Wilmington 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 Wilmington Tax Rate
0.56%
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 Wilmington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28401 | 0.53% | 0.84% | 0.84% | 0.85% | 0.85% |
| 28403 | 0.84% | 0.84% | 0.84% | 0.85% | 0.85% |
| 28405 | 0.44% | 0.55% | 0.64% | 0.84% | 0.85% |
| 28409 | 0.53% | 0.54% | 0.63% | 0.84% | 0.85% |
| 28411 | 0.52% | 0.53% | 0.54% | 0.55% | 0.56% |
| 28412 | 0.52% | 0.54% | 0.56% | 0.84% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Wilmington, North Carolina
In Wilmington, 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 Wilmington, 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. The median home price in Wilmington is $253,200, with property tax bills ranging from $1,155 at the 25th percentile to $3,627 at the 90th percentile. The highest median tax bill is $2,066 in the 28409 zip code, while the lowest median tax bill is $1,344 in the 28405 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Wilmington, North Carolina
Source: Ownwell
$174,100
$558,250
$942,400
Average Wilmington Assessed Value
$253,200
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 Wilmington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28401 | $95,980 | $128,500 | $174,100 | $245,300 | $336,320 |
| 28403 | $120,800 | $161,100 | $235,700 | $354,550 | $534,880 |
| 28405 | $135,300 | $179,400 | $229,100 | $346,000 | $686,080 |
| 28409 | $183,800 | $237,900 | $310,100 | $413,900 | $594,800 |
| 28411 | $189,800 | $218,400 | $295,000 | $425,200 | $619,320 |
| 28412 | $142,700 | $176,900 | $245,400 | $329,600 | $419,910 |
Source: Ownwell
Property Tax Bills Across Wilmington, North Carolina
In Wilmington, NC, property tax bills are calculated based on the assessed value of a home. The county, New Hanover, uses this assessed value to determine the tax bill, which is influenced by various factors such as property location, market trends, and any applicable exemptions. Homeowners in Wilmington can expect a range of tax bills depending on their specific circumstances. For instance, the 25th percentile tax bill is approximately $1,155, while the 75th percentile tax bill is around $2,419. Those at the higher end, in the 90th percentile, may pay up to $3,627. Comparatively, the highest median tax bill in the area is $2,066 in zip code 28409, whereas the lowest is $1,344 in zip code 28405. These figures highlight the variability within the region. Given the national median property tax rate of 0.99%, Wilmington's homeowners experience a diverse range of tax obligations, which can significantly impact their annual financial planning.
Average Wilmington Tax Bill
$1,604
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 Wilmington, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28401 | $672 | $952 | $1,359 | $1,861 | $2,521 |
| 28403 | $891 | $1,294 | $1,920 | $2,872 | $4,351 |
| 28405 | $798 | $1,086 | $1,344 | $2,508 | $5,447 |
| 28409 | $1,060 | $1,471 | $2,066 | $2,931 | $4,173 |
| 28411 | $999 | $1,157 | $1,526 | $2,181 | $3,126 |
| 28412 | $776 | $1,089 | $1,466 | $2,153 | $2,936 |
Source: Ownwell