28523 Property Tax Rate

Property owners in ZIP code 28523 (Cove City, North Carolina) pay a median of $1,054/year in property taxes on homes valued at $167,700. This translates to an effective tax rate of 0.63%, which is 12% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 28523 is approximately $88, which factors into escrow payments on mortgages. This ZIP code is located within Craven County. This is $537 less than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 28523 has lower property taxes. ZIP codes with similar effective rates include 28174 (0.63%) and 28645 (0.63%).

In Cove City, property taxes represent approximately 2.3% of the median household income of $45,283, providing context for the relative tax burden on homeowners in this area.

North Carolina conducts annual market-value assessments with no statewide increase limit, so plan for potential tax increases when you buy. Craven County offers a Homestead Property Tax Exemption ($25,000 off assessed value for owner-occupied homes) and a Disabled Veterans Exemption — file your application with the Craven County Tax Assessor's office immediately after purchase to secure the exemption. Check your tax notice following the first full year of ownership to ensure the exemption was applied correctly.