Merritt, Pamlico County, North Carolina Property Taxes
Median Merritt, NC effective property tax rate: 0.69%, significantly lower than the national median of 1.02%, but lower than the NC state median of 0.82%.
Median Merritt, NC home value: $183,818
Median annual Merritt, NC tax bill: $1,230, $1,170 lower than the national median property tax bill of $2,400.
How are property taxes in Pamlico calculated?
Property taxes in Merritt, 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 Merritt’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Merritt, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Merritt, Pamlico County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.71%
Estimate Property Tax Bill
$1,328
$1,233
Property Tax Rates Across Merritt, Pamlico County, North Carolina
Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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.
In Merritt, located in Pamlico County, North Carolina, property tax rates reflect this careful balancing act. Merritt's effective property tax rate is 0.69%, which is below the national median property tax rate of 1.02%. This lower rate can be attributed to the county's specific budgetary needs and the total assessed value of properties within its borders. When comparing Merritt's rate to other cities in North Carolina, it aligns closely with the state median, offering residents a more affordable property tax bill compared to the national median of $2,400. This makes Merritt an attractive option for homeowners looking for lower property tax rates while still enjoying the services provided by their local government.
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 Merritt Tax Rate
0.71%
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 Pamlico County Tax Rate
0.71%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Merritt, Pamlico County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28556 | 0.69% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Merritt, Pamlico County, North Carolina
When examining property taxes in Merritt, 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. Pamlico County 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 Pamlico 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 Merritt.
For example, the median home price in Merritt is $183,818, with tax bills ranging significantly across the county. The zip code 28556 has the highest median home price at $183,818.
Property Tax Assessment Values Across Merritt, Pamlico County, North Carolina
Source: Ownwell
$53,718
$140,313
$226,908
Median Merritt Market Value
$187,069
Median Pamlico County Market Value
$147,817
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Merritt, Pamlico County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28556 | $54,614 | $98,132 | $187,069 | $297,978 | $397,483 |
Source: Ownwell
Property Tax Bills Across Merritt, Pamlico County, North Carolina
Median Merritt Tax Bill
$1,275
Median Pamlico County Tax Bill
$1,091
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Merritt, Pamlico County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28556 | $350 | $650 | $1,275 | $2,056 | $2,779 |
Source: Ownwell