28515 Property Tax Rate

Property owners in ZIP code 28515 (Bayboro, North Carolina) pay a median of $874/year in property taxes on homes valued at $137,000. This translates to an effective tax rate of 0.64%, which is 11% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28515 is approximately $73, which factors into escrow payments on mortgages. This ZIP code is located within Pamlico County. This is $717 less than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 28515 has lower property taxes. ZIP codes with similar effective rates include 28630 (0.64%) and 28659 (0.64%).

In Bayboro, property taxes represent approximately 2.7% of the median household income of $31,857, providing context for the relative tax burden on homeowners in this area.

North Carolina values property at market value with no annual growth cap, so expect a full reassessment to your purchase price at closing. Pamlico County offers a Homestead Property Tax Exemption ($25,000 off assessed value) and a Disabled Veterans Exemption — submit your application to the Pamlico County Tax Assessor immediately after purchase. Verify that your exemption has been processed on your next tax bill and request a review if the assessed value exceeds your purchase price.