wake county property tax: Wake County Property Taxes and Pro-Ration at Closing. 60 Seconds in Real Estate, Cary NC - 07/21/11 11:38 PM
Real Estate Closing and Wake County NC Property Tax Details Wake County Property Tax Proration at Closing It really isn't all that complicated. The Listing Agent and Buyers Agent should be able to calculate the prorated Wake County Property Tax bill for either party in the transaction.
Seller pays property tax through Closing, the date of deed recordation.
Buyer pays the balance for the year starting from the day after closing.
Wake County Property Tax year is the Calendar year, January 1 through December 31.  Divide the tax bill by 365 days, and multiply the result, the property tax per day … (0 comments)

wake county property tax: Wake County Property Tax Value is NOT Market Value! 60 Seconds in Real Estate, Cary NC - 07/12/11 01:01 PM
We see it routinely in the Cary area. Listing Agents shout, "Priced $Thousands below Tax Value!!"
It doesn't really mean much. If the difference is in the tens of thousands, then a Buyer might wonder if the Seller should have appealed the assessment and tried to have it lowered to a reasonable affordable number.
Wake County Property Tax reassessments are performed every 8 years. The last time was in 2008, with the next reassessment scheduled for 2016. Until then, Wake County will not adjust tax values because of market conditions or soft sales prices.
I have spoken to many … (11 comments)

wake county property tax: Wake County North Carolina Property Tax: How to submit your Re-Assessment Appeals - 11/21/07 01:11 PM
With the average reassessment increasing property tax valuations 40% on average across Wake County, The first reactions of many people, after a little shock, was "How do I get THIS fixed."
Well, don't rush the Wake County Courthouse with torches and pitchforks...  It is well-secured.
 Wake County, NC, Courthouse: You won't get in with a pitchfork...
You can enter an assessment appeal by following the instructions that came out in today's mail with the reassessment notice.  Your best tool will be the price realized by Sellers in your neighborhood.  Good data is your friend.
Not sure how to proceed?  I have posted a link to the instructions … (12 comments)

wake county property tax: Wake County North Carolina Property Tax Re-Assessments go public today. Average 40% increase! - 11/19/07 12:51 PM
Sounds bad, right?  A 40% increase in assessed Tax Values in Wake County, NC real estate tax values for 2008.
There's a little more to the story, as well-reported by WRAL-TV.
1.  The property tax bills will not increase by 40% immediately.  The Wake County tax rate will be reduced to prevent a massive increase in County revenue.
2.  Property tax assessed values are only tenuously linked to market value. 
3.  Rates are set annually, but assessments are only updated every eight years.  Assessments are NOT updated when a home is sold.
4.  The current Wake County rate is .678 mills.  It will be reset at … (4 comments)

 
Mike Jaquish, 919-880-2769 Cary, NC, Real Estate (Realty Arts)

Mike Jaquish

919-880-2769 Cary, NC, Real Estate

Cary, NC

More about me…

Realty Arts

Address: 130 Towerview Court, Cary, NC, 27513

Mobile: (919) 880-2769

Cary, NC, blog. I'm in Cary, North Carolina, writing about Real Estate, including Cary, Raleigh, Apex, Wake County, NC, and around the USA..



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