Real Estate Taxes in North Carolina Triangle

Real Estate Taxes are the various fees associated with owning a property in any given community. These taxes vary depending on what type of laws apply for that particular neighborhood and includes county, state, and federal tax. If you're planning to move into a new home, you'll want to make sure you know what the overall cost of your realty taxes is going to be and budget your finances accordingly. If you're in the market for a house in the North Carolina Triangle area, our team of real estate professionals would be happy to help guide you through the best real estate deals available on the market.

Check out our original blog post at https://www.findnctrianglehomes.com/ for more information.

Property Taxes for Homeowners

If you own property in North Carolina Triangle or are planning to buy a home in the area, you'll want to consider the property taxes of the real estate you are going to purchase. Property tax rates in the region are relatively low compared to other states. The average effective property tax rate is 0.86% compared to the national average of 1.08%. Property taxes in North Carolina are dependent on the overall value of your property. This amount is identified by an assessor and is reevaluated once every eight years to keep the market value up to date.

Check out our original blog post at https://www.findnctrianglehomes.com/ for more information.

Property Taxes in Wake County

North Carolina Triangle neighborhoods are located either in Wake County or Durham County, with slight variations on their effective property tax rate. 

The fiscal taxing period is from July 1 through June 30, and annual tax bills are typically mailed to property owners in July of each year. Property taxes must be paid in full by January 5 following billing. Otherwise, they incur an interest charge of 2% for January and an additional 3/4 of 1% each month after that.

Property Taxes in Durham County

The effective property tax rate in Durham County is 1.21%, which ranks as the second-highest property tax rate among North Carolina counties. The average property tax paid by Durham County homeowners is $2,362, based on the median home value in this location, which is $195,900. In the city of Durham, the average effective property tax rate is 1.26%, and the median annual property tax payment in this location is $2,460 based on the median home value of $195,000.