Property Taxes in Morehead City

The Two-Bill System, Explained

North Carolina property tax runs through the county, and incorporated towns layer their own municipal rate on top of the county rate for any parcel within town limits. A property inside Morehead City's town limits is billed for both the Carteret County rate and the Town of Morehead City rate; a property in unincorporated Carteret County outside any town limits pays only the county rate (plus any applicable fire district levy). This structure is standard across North Carolina, not unique to Morehead City, but it means a buyer comparing 'Morehead City' pricing to a nearby unincorporated Carteret County address needs to account for the municipal rate difference specifically.

Carteret County's FY2025-26 Rate

Carteret County set its FY2025-26 countywide property tax rate at 22.5 cents per $100 of assessed value, per the county's own published tax-rate page. This is the base rate every Carteret County property owner pays, regardless of which town (if any) the property sits within. The county's tax office fields questions about the specific applicable rate for any given parcel, since special districts and fire-service areas can add additional, smaller levies on top of the base countywide rate depending on exact location.

Morehead City's Municipal Rate: A Recent Cut, Then Held Flat

The Town of Morehead City's own council approved a municipal ad valorem tax rate of 34.25 cents per $100 of assessed value for fiscal year 2025-26, as part of a $41.8 million town budget -- a meaningful reduction from 41 cents per $100 the prior fiscal year, per the town's own newsflash announcement and reporting from WITN and Carolina Coast Online. The council then carried that same 34.25-cent rate forward unchanged into a $42.1 million FY2026-27 budget, meaning Morehead City property owners have now seen two consecutive budget cycles at the lower rate rather than a one-time cut followed by an increase.

This rate history matters for anyone trying to project future tax bills: a rate cut from 41 cents to 34.25 cents is roughly a 16.5% municipal rate reduction, and the town holding that rate flat for a second consecutive year is a real, reported signal of near-term budget stability -- though this page did not find confirmation of what specifically drove the original 41-to-34.25-cent reduction (whether a revaluation-offsetting move similar to what other NC coastal towns have done, or a different budget dynamic), so that context should be confirmed directly with the Town of Morehead City's finance department if it matters to a purchase decision.

What the Combined Rate Means on a Real Number

Adding the two confirmed rates together -- 22.5 cents county plus 34.25 cents town -- puts the combined rate at roughly 56.75 cents per $100 of assessed value for a property inside Morehead City town limits for FY2025-26 and FY2026-27. This page treats that sum as an approximate combination of two separately confirmed rates, not as a single official combined figure the county or town has itself published, and it excludes any fire district or special-assessment district levy that could apply to a specific parcel.

On a home assessed at $374,416 (Zillow's current typical-value estimate for Morehead City), that combined rate works out to roughly $2,125 a year before any additional district levies. On a home assessed at $576,000 (Redfin's current median sale price), it works out to roughly $3,269 a year. These are illustrative calculations based on the two confirmed rates, not a quote -- the actual assessed value used for taxation (which can differ from market/sale price, especially between countywide revaluation cycles) is the number that matters, and only the Carteret County Tax Office can confirm a specific parcel's current assessed value and total bill.

Assessed Value vs. Market Value, and Revaluation Timing

North Carolina counties are required to reassess property values at least every eight years, though many coastal counties -- including, per this research pass, several nearby New Hanover and neighboring counties -- have shortened that cycle voluntarily to four years to keep assessed values closer to actual market value. This page did not independently confirm Carteret County's own specific revaluation cycle length or the date of its most recent countywide reassessment, so a buyer should ask the Carteret County Tax Office directly how recently the county revalued and when the next cycle is scheduled, since a property purchased well after the last revaluation may carry an assessed value meaningfully below its actual purchase price -- which affects the tax bill until the next reassessment catches up.

Special Districts and What This Page Doesn't Cover

This page states the two confirmed, published rates -- Carteret County's 22.5 cents and the Town of Morehead City's 34.25 cents, both per $100 of assessed value for FY2025-26/FY2026-27 -- and their approximate combined sum. It does not state any fire district, school bond, or other special-assessment levy that might apply to a specific parcel beyond the base county and town rates, since those vary by exact location and this research pass did not pull a comprehensive district map. It also does not state a specific homestead exemption, elderly/disabled exclusion amount, or veteran's exemption eligibility, all of which North Carolina offers in some form but which require confirming current thresholds directly with the Carteret County Tax Office.

Before budgeting a specific number, confirm the current assessed value, the applicable combined rate for the exact parcel (including any special district), and eligibility for any exemption directly with the Carteret County Tax Office at (252) 728-8485, or with the Town of Morehead City's finance department for questions specific to the municipal rate. Nothing on this page is tax or legal advice.