With a flat income tax rate, North Carolina treats all of its citizens equally, independent of their income. With a personal income tax rate of 4.99% in 2024, the state offers a consistent structure for individual taxes in Wilmington, NC. Wilmington also imposes local taxes, such as sales and property taxes, which vary and have a direct impact on the cost of living.
The Landscape Of Sales Taxes
Combining state tax of 4.75% with local tax of 2.75%, Wilmington’s combined sales tax rate is 7.5%. For both locals and guests, this rate is important since it affects most purchases, including retail products and services. Although Wilmington’s sales tax rate is somewhat normal, one should keep in mind how municipal taxes could vary in particular areas.
Wilmington Taxes For Property Taxes
For every $100 of the assessed value on a property, the county’s current property tax rate is $0.5475. Given this rate, Wilmington appeals to homeowners, as it is competitive with other metropolitan areas of the state. Taxes in Wilmington, NC, Residents should consider these property tax rates, as they contribute to the funding of local infrastructure and services.
A Financial Success And Trusted Partner
The staff strives hard to make sure each customer has the financial security and peace of mind required for success. Their combination of professional knowledge and tailored service has earned them a reputation for excellence in the community, positioning Business Name as Wilmington’s top tax planning and preparation company.