The annual levy imposed on real estate within a specific North Carolina coastal county funds essential public services. This charge is based on the assessed value of land, homes, and other structures, with rates varying depending on the specific location within the county. For instance, Morehead City may have a different rate than Beaufort or Atlantic Beach due to differing budgetary needs and property values.
Stable and predictable revenue streams generated through this system enable local governments to maintain crucial infrastructure, such as schools, roads, and emergency services. Historically, these locally controlled funds have played a vital role in shaping the character and development of communities, reflecting local priorities and investment decisions. This system ensures that the financial burden of these services is distributed proportionately among property owners, contributing to a shared responsibility for community well-being.