Property Taxes in Waves, North Carolina
Median Waves, North Carolina effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, and lower than the North Carolina state median of 0.81%.
Median Waves, North Carolina home value: $390,600
Median annual Waves, North Carolina tax bill: $2,473, $73 higher than the national median property tax bill of $2,400.
How are property taxes in Dare calculated?
Property taxes in Waves, North Carolina are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Waves's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waves, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Waves Property Tax Calculator Work?
Use this Waves property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Waves' median effective tax rate of 0.65% — based on actual property records in Dare County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Waves' median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Waves: rates range from 0.65% in 27982 to 0.65% in 27982, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Waves.
About Waves Property Taxes
About Property Taxes in Waves, Dare, North Carolina
Waves’s median effective property tax rate of 0.65% is lower than the North Carolina state median of 0.81% and lower than the national median of 1.02%. This rate reflects the Dare County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Waves. Homeowners in ZIP code 27982 carry a median effective rate of 0.65%, and the same ZIP also has the lowest median rate at 0.65%. Understanding where you live in Waves can still make a difference to your annual tax bill, especially when local assessments are based on market value.
Waves homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 6, 2025 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Waves, Dare County, North Carolina
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Waves's effective property tax rate to other cities in North Carolina and the median property tax rates in North Carolina and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Waves Tax Rate
0.65%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Dare County Tax Rate
0.66%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Waves, Dare County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27982 | 0.63% | 0.63% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Waves, Dare County, North Carolina
When examining property taxes in Waves, North Carolina, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Dare County assessment office estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Dare County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of April.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Waves.
For example, the median home price in Waves is $390,600, with tax bills ranging significantly across the county. 27982 has the highest median home price at $390,600.
Property Tax Assessment Values Across Waves, Dare County, North Carolina
Source: Ownwell
$169,300
$316,900
$464,500
Median Waves Market Value
$390,600
Median Dare County Market Value
$354,000
Median North Carolina Market Value
$221,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Waves, Dare County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27982 | $171,180 | $269,300 | $390,600 | $550,100 | $714,940 |
Source: Ownwell
Property Tax Bills Across Waves, Dare County, North Carolina
Waves property tax bills are based on the assessed value of a home and the local tax rate set for Dare County. The bill is calculated by multiplying the home’s assessed market value by the applicable rate, so a higher assessed value generally means a higher tax bill. For homeowners in Waves, this means property taxes can change when market conditions shift or when a home is reassessed.
The median home price in Waves is $390,600, and the median property tax bill is $2,473, which is slightly above the national median property tax bill of $2,400. That places many homeowners in a range where property taxes are a meaningful part of annual housing costs. Bills can vary widely, with the 25th percentile at $1,691 and the 75th percentile at $3,503, showing how differences in home value and assessment can affect what each homeowner pays.
Median Waves Tax Bill
$2,473
Median Dare County Tax Bill
$2,341
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$3,209
Property Tax Bills Across Waves, Dare County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27982 | $1,007 | $1,691 | $2,473 | $3,503 | $4,581 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 6 |
Links | |
|---|---|
| Dare Tax Assessor | |
| Website | property.spatialest.com |