Wilmington, North Carolina Property Taxes
The median property tax rate in Wilmington, NC is 0.88%, which is 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 $264,574, the typical annual property tax bill in Wilmington amounts to $2,386, falling below the national median of $2,690. Property taxes in Wilmington are calculated based on the tax assessed value, which generally is lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wilmington'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 Wilmington 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
Wilmington, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$2,328
$2,161
Ownwell’s Wilmington Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wilmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmington to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities and make informed decisions. For those interested in more granular data, you can scroll down to explore trends at the neighborhood level. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any exemptions that may apply.
Property Tax Rates Across Wilmington, North Carolina
Property taxes in Wilmington, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmington is 0.88%, which is slightly lower than 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 North Carolina and the national median. For comparison, the 28401 zip code has the highest median property tax rate of 0.96%, while the 28411 zip code has the lowest median tax rate of 0.88%. Understanding how these areas compare with Wilmington provides valuable insights into the varying tax landscape across Pender County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilmington Tax Rate
0.88%
Average Pender County Tax Rate
0.88%
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 | 0.85% | 0.85% | 0.96% | 1.09% | 1.19% |
| 28411 | 0.83% | 0.86% | 0.88% | 0.90% | 0.93% |
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 Pender 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. 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 Wilmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Among Wilmington's zip codes, 28411 has the highest median tax bill at $2,421, while 28401 has the lowest at $987.
Property Tax Assessment Values Across Wilmington, North Carolina
Source: Ownwell
$75,914
$253,666
$431,418
Average Wilmington Assessed Value
$264,574
Average Pender County Assessed Value
$183,803
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 | $19,210 | $52,327 | $91,192 | $154,018 | $193,449 |
| 28411 | $125,779 | $219,094 | $268,374 | $346,146 | $466,800 |
Source: Ownwell
Property Tax Bills Across Wilmington, North Carolina
In Wilmington, NC, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made. For example, in Wilmington, the median home price is $264,574, which significantly impacts the tax bill. Homeowners in Wilmington can expect their property tax bills to vary widely. The tax bill for the 25th percentile is around $1,996, while the 75th percentile sees bills of about $3,035. Those in the 90th percentile may face bills as high as $4,028. The highest median tax bill in the area is $2,421 in the 28411 zip code, whereas the lowest is $987 in the 28401 zip code. These variations can significantly affect homeowners' financial planning and budgeting.
Average Wilmington Tax Bill
$2,386
Average Pender County Tax Bill
$1,515
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 | $163 | $658 | $987 | $1,464 | $1,859 |
| 28411 | $1,537 | $2,039 | $2,421 | $3,057 | $4,064 |
Source: Ownwell