Ocracoke, Hyde County, North Carolina Property Taxes
Median Ocracoke, NC effective property tax rate: 0.91%, significantly lower than the national median of 1.02%, but higher than the NC state median of 0.82%.
Median Ocracoke, NC home value: $268,857
Median annual Ocracoke, NC tax bill: $2,439, $39 higher than the national median property tax bill of $2,400.
How are property taxes in Hyde County calculated?
Property taxes in Ocracoke, NC 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 Ocracoke’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ocracoke, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ocracoke, Hyde County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.94%
Estimate Property Tax Bill
$3,736
$3,467
Property Tax Rates Across Ocracoke, Hyde County, North Carolina
Local government entities set tax rates, and these can vary significantly within a state. This variation occurs because each county annually estimates the budget necessary to provide services and divides that by the total value of all taxable property within its jurisdiction. The result of this calculation is the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Ocracoke, located in Hyde County, the effective property tax rate is a reflection of this local budgeting process. When compared to other cities within North Carolina, Ocracoke's tax rate provides an interesting perspective on how local needs and property values influence tax obligations. The median property tax rate in North Carolina is slightly lower than the national median of 1.02%, offering a relatively favorable comparison for property owners. This comparison highlights the importance of understanding local tax rates, as they directly impact property tax bills and can vary even within the same state. By examining these rates, property owners can gain insight into how local government decisions affect their financial responsibilities.
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 Ocracoke Tax Rate
0.94%
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 Hyde County Tax Rate
0.92%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Ocracoke, Hyde County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27960 | 0.92% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Ocracoke, Hyde County, North Carolina
When examining property taxes in Ocracoke, NC, 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 Hyde County Appraisal District 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.
In Hyde County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Ocracoke.
For example, the median home price in Ocracoke is $268,857, with tax bills ranging significantly across the county. Zip code 27960 has the highest median home price at $268,857.
Property Tax Assessment Values Across Ocracoke, Hyde County, North Carolina
Source: Ownwell
$96,814
$247,138
$397,462
Median Ocracoke Market Value
$397,462
Median Hyde County Market Value
$136,630
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Ocracoke, Hyde County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27960 | $85,624 | $275,145 | $397,462 | $534,195 | $722,927 |
Source: Ownwell
Property Tax Bills Across Ocracoke, Hyde County, North Carolina
Median Ocracoke Tax Bill
$3,870
Median Hyde County Tax Bill
$1,361
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Ocracoke, Hyde County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27960 | $2,172 | $2,987 | $3,870 | $5,107 | $6,875 |
Source: Ownwell