Oak City, Martin County, North Carolina Property Taxes

Name: Property Tax Bills Across Oak City, Martin County, North Carolina
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median OAK CITY, NC effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median OAK CITY, NC home value: $38,900
Median annual OAK CITY, NC tax bill: $612, $1,788 lower than the national median property tax bill of $2,400.

How are property taxes in Martin calculated?

Property taxes in OAK CITY, 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 OAK CITY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OAK CITY, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Oak City, Martin County, North Carolina Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.2%

Estimate Property Tax Bill

$785

$729

Ownwell’s Oak City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oak City with just two data points. By entering your property's estimated assessed value, our calculator applies Oak City’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 Martin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oak City, Martin County, North Carolina

Local government entities determine tax rates, and these can differ significantly within a state. This is because each county annually estimates its budgetary needs to provide essential services and divides this by the total value of all taxable property in its area, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the annual process in a nutshell.

In Oak City, located in Martin County, the effective property tax rate stands at 1.44%, which is above the national median of 1.02%. This rate is consistent across the county, as both the highest and lowest median tax rates are the same. The median property tax rate in North Carolina is lower than Oak City's, highlighting the variability within the state. For homeowners in Oak City, this higher rate translates into a more substantial tax bill compared to the national median tax bill of $2,400. Understanding these rates can help residents make informed decisions about property ownership and potential appeals in their area.

Property Tax Rates Across Oak City, Martin County, North Carolina

Source: Ownwell

1.03%

1.43%

1.83%

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 Oak City Tax Rate

1.20%

Median Effective Martin County Tax Rate

1.14%

Median Effective North Carolina Tax Rate

0.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Oak City, Martin County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
27857	0.63%	1.00%	1.20%	1.53%	1.87%

Source: Ownwell

Property Tax Assessment Values Across Oak City, Martin County, North Carolina

When examining property taxes in Oak City, 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 Martin 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 Martin 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 Oak City. For example, the median home price in Oak City is $38,900, with tax bills ranging significantly across the county. 27857 has the highest median home price at $38,900.

Property Tax Assessment Values Across Oak City, Martin County, North Carolina

Source: Ownwell

$39,060

$60,710

$82,360

Median Oak City Market Value

$65,450

Median Martin County Market Value

$68,420

Median North Carolina Market Value

$221,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Oak City, Martin County, North Carolina

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
27857	$23,918	$38,925	$65,450	$113,615	$185,242

Source: Ownwell

Property Tax Bills Across Oak City, Martin County, North Carolina

In Oak City, located in Martin County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Oak City is $38,900, and the property tax bill can range significantly. For example, at the 25th percentile, homeowners might pay around $343, while those at the 75th percentile could see bills as high as $1,025. The top 10% of property tax bills reach up to $1,495. Comparatively, the national median property tax rate is 1.02%, with a median bill of $2,400, indicating that Oak City’s tax bills can be significantly lower. However, for homeowners looking to reduce their property tax burden, Ownwell offers expert property tax appeal and exemption services. By leveraging local market data and expertise, Ownwell can help ensure that homeowners are not overpaying and can potentially save significantly on their annual property tax bills.

Property Tax Bills Across Oak City, Martin County, North Carolina

Source: Ownwell

$536

$731

$925

Median Oak City Tax Bill

$795

Median Martin County Tax Bill

$800

Median North Carolina Tax Bill

$1,813

Median United States Tax Bill

$2,400

Property Tax Bills Across Oak City, Martin County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
27857	$365	$529	$795	$1,148	$1,649

Source: Ownwell