DEMOGRAPHICS |
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Tax Rates & Incentives
INCENTIVES - More Information on Incentives
North Carolina imposes no tax on business inventories, and there is no state property tax on equipment or real property. Carteret County historically has one of the lowest property tax rates in North Carolina, and the 2009 tax rate of $.23/$100 valuation is the lowest rate of any North Carolina county. The sales assessment ratio for Carteret County is $1.0000 and the effective tax rate is $.2300. The effective rate adjusts for the county revaluation cycle by adjusting the county's nominal tax rate by the sales/assessment ratio - the ratio of the selling price of property to the assessed value of property.
Free job training & tax credits
North Carolina offers free customized job training and retraining through its Community College system for manufacturing companies employing 12 or more workers. North Carolina manufacturers employing five or more workers are also eligible for an income or franchise tax credit of 50% of eligible company paid training expenses (up to $500/employee).
Additional credits for Carteret County manufacturers
Manufacturers locating in Carteret County are eligible for a $500/job tax credit against North Carolina income/franchise taxes. Carteret County manufacturers also enjoy a 4% investment tax credit for investments in machinery and equipment over $2,000,000.
2009 Tax Rates (per $100 valuation) |
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| Carteret County | .23 | ||
| MUNICIPALITIES | |||
| Atlantic Beach | .125 | ||
| Beaufort | .22 | ||
| Bogue | .05 | ||
| Cape Carteret | .14 | ||
| Cedar Point | .055 | ||
| Emerald Isle | |||
| Oceanfront - .07 + .162 | .232 | ||
| Non-oceanfront - .07 + .011 | .081 | ||
| Indian Beach | |||
| Oceanfront - .14 + .01 | .15 | ||
| Non-oceanfront - .14 + .01 | .15 | ||
| Bft Tnsh/Morehead | .22 | ||
| Morehead City | .22 | ||
| Newport | .31 | ||
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Pine Knoll Shores Oceanfront - .115 + .105 Non-oceanfront - .115 + .016 |
.22 .131 |
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| Peletier | .05 | ||
| RESCUE DISTRICT TAX RATES | |||
| Beaufort | .045 | ||
| Broad/Gales Creek | .030 | ||
| Cape Carteret | .045 | ||
| Sea Level | .120 | ||
| Mill Creek | .045 | ||
| Mitchell Village | .040 | ||
| Otway | .030 | ||
| Western Carteret | .030 | ||
| FIRE DISTRICT TAX RATES | |||
| Atlantic | .070 | ||
| Beaufort | .050 | ||
| Broad/Gales Creek | .030 | ||
| Cape Carteret | .040 | ||
| Cedar Island | .100 | ||
| Davis | .090 | ||
| Harkers Island | .065 | ||
| Harlowe | .055 | ||
| Marshallberg | .080 | ||
| Mill Creek | .045 | ||
| Mitchell Village | .075 | ||
| Newport | .070 | ||
| North River | .090 | ||
| Otway | .050 | ||
| Salter Path | .030 | ||
| Sea Level | .100 | ||
| South River | .060 | ||
| Stacy | .070 | ||
| Stella | .025 | ||
| Wildwood | .060 | ||
| Western Carteret | .040 | ||
| Source: Carteret County Tax Office | |||
| BACK TO TOP | |||
Taxes |
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| 1989 (revaluation) | .36 | ||
| 1992 | .41 | ||
| 1993 | .46 | ||
| 1994 | .46 | ||
| 1995 | .505 | ||
| 1996 | .505 | ||
| 1997 (revaluation) | .42 | ||
| 1998 | .42 | ||
| 1999 | .50 | ||
| 2000 | .51 | ||
| 2001 (revaluation) | .44 | ||
| 2002 | .42 | ||
| 2003 | .42 | ||
| 2004 | .42 | ||
| 2005 | .42 | ||
| 2006 | .44 | ||
| 2007 (revaluation) | .23 | ||
| 2008 | .23 | ||
| 2009 | .23 | ||
| 2010 | .23 | ||
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All rates per $100 valuation. Under North Carolina law, property is taxed at 100% fair market value and revaluations must occur at least every 8 years. Carteret County's policy is to conduct revaluations every four years. |
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Carteret CountyTourism Impact |
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The Carteret County tourism industry generated $267.42 million in revenue in 2008. This represents a 2.87% increase over 2007 and ranked the county 13th in the state in travel impact. Tourism is responsible for the creation of over 3,090 jobs with an annual payroll of $51.25 million. State and local tax revenues from travel to Carteret County amounted to $29.43 million and represents a $463 tax savings to each county resident. Total net occupancy tax collections of 5% for fiscal year 2008-2009 was $4,349,828. The county received $2,358,249 for beach nourishment and the Tourism Development Authority received $2,174,914. |
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Carteret County Economic Development Council - 3615 Arendell Street - Morehead City, NC 28557
Phone: 252-222-6120, 1-800-462-4252 - Fax: 252-222-6124