Corolla, Currituck County, North Carolina Property Taxes
Median Corolla, NC effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the NC state median of 0.82%.
Median Corolla, NC home value: $504,000
Median annual Corolla, NC tax bill: $4,123, $1,723 higher than the national median property tax bill of $2,400.
How are property taxes in Currituck calculated?
Property taxes in Corolla, 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 Corolla’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Corolla, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Corolla, Currituck County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.81%
Estimate Property Tax Bill
$4,073
$3,779
Ownwell’s Corolla Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Corolla with just two data points.
By entering your property's estimated assessed value, our calculator applies Corolla’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Currituck County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Corolla, Currituck County, North Carolina
Local government entities determine tax rates, which can differ significantly within a state. This variation exists because each county annually calculates its budgetary needs to provide essential services and divides that by the total assessed value of all taxable properties within its jurisdiction. This calculation yields the property tax rate. Although votes and legislation play a role in the establishment of tax rates and budgets, this is essentially the annual procedure.
In Corolla, located in Currituck County, the effective property tax rate serves as a point of comparison to other cities in North Carolina and the median property tax rates in both the state and the U.S. With a median property tax rate of 0.73%, Corolla's rate is notably lower than the national median of 1.02%. This lower rate can translate to significant savings for property owners in the area, making it an attractive location for potential homeowners. Understanding these tax rate differences is crucial for property owners looking to optimize their investments and manage their expenses effectively.
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 Corolla Tax Rate
0.81%
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 Currituck County Tax Rate
0.74%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Corolla, Currituck County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27927 | 0.69% | 0.76% | 0.81% | 0.92% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Corolla, Currituck County, North Carolina
When examining property taxes in Corolla, 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 Currituck 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 Currituck County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Corolla. For example, the median home price in Corolla is $504,000, with tax bills ranging significantly across the county. Zip code 27927 has the highest median home price at $504,000.
Property Tax Assessment Values Across Corolla, Currituck County, North Carolina
Source: Ownwell
$152,800
$327,800
$502,800
Median Corolla Market Value
$502,800
Median Currituck County Market Value
$313,200
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Corolla, Currituck County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27927 | $225,210 | $356,525 | $502,800 | $750,350 | $1,203,680 |
Source: Ownwell
Property Tax Bills Across Corolla, Currituck County, North Carolina
Property Tax Bills Across Corolla, Currituck County, North Carolina
Source: Ownwell
$1,171
$2,836
$4,500
Median Corolla Tax Bill
$4,500
Median Currituck County Tax Bill
$2,279
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Corolla, Currituck County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27927 | $1,849 | $3,221 | $4,500 | $6,316 | $10,160 |
Source: Ownwell