Raleigh, North Carolina Property Taxes
The median property tax rate in Raleigh, NC is 0.79%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Raleigh at $246,420, the typical annual property tax bill amounts to $1,942, falling below the national median of $2,690. Property taxes in Raleigh are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Raleigh's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Raleigh or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raleigh, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,947
Ownwell’s Raleigh Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Raleigh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raleigh to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in seeing trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Raleigh, North Carolina
Property taxes in Raleigh, North Carolina, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Raleigh is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Raleigh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raleigh estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Raleigh's effective property tax rate to other areas in Johnston County and the national median. For comparison, the 27610 zip code has the highest median property tax rate of 0.84%, while the 27603 zip code has the lowest median tax rate of 0.79%. Understanding how these areas compare with Raleigh provides valuable insights into the varying tax landscape across Johnston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raleigh Tax Rate
0.79%
Average Johnston County Tax Rate
0.81%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raleigh, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27603 | 0.78% | 0.78% | 0.79% | 0.79% | 0.79% |
| 27610 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Raleigh, North Carolina
In Raleigh, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Johnston County Tax Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Raleigh, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the median home price in Raleigh is $246,420, with tax bills ranging from $1,678 at the 25th percentile to $2,615 at the 90th percentile. The highest median tax bill is $1,945 in the 27603 zip code, while the lowest is $1,883 in the 27610 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Raleigh Assessed Value
$246,420
Average Johnston County Assessed Value
$190,250
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raleigh, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27603 | $161,568 | $216,180 | $248,295 | $284,005 | $338,303 |
| 27610 | $202,280 | $215,360 | $226,630 | $245,190 | $257,400 |
Source: Ownwell
Property Tax Bills Across Raleigh, North Carolina
In Raleigh, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Raleigh is $246,420. Property taxes are then levied using the local tax rate. For Johnston County, the property tax rate is applied to the assessed value to determine the annual tax bill. Homeowners in Raleigh can expect their tax bills to vary, with the 25th percentile tax bill at $1,678 and the 75th percentile at $2,208. The 90th percentile tax bill reaches up to $2,615, indicating a range of tax liabilities depending on the property's assessed value and location within the county. The highest median tax bill in Raleigh is $1,945 in ZIP code 27603, while the lowest median tax bill is $1,883 in ZIP code 27610. Compared to the national median property tax rate of 0.99%, Raleigh's property taxes are fairly competitive, affecting homeowners by contributing to local services and infrastructure while reflecting the value of their properties.
Average Raleigh Tax Bill
$1,942
Average Johnston County Tax Bill
$1,676
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Raleigh, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27603 | $1,251 | $1,652 | $1,945 | $2,231 | $2,656 |
| 27610 | $1,547 | $1,779 | $1,883 | $2,007 | $2,080 |
Source: Ownwell