Carrboro, North Carolina Property Taxes
The median property tax rate in Carrboro, NC is 1.72%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Carrboro at $284,100, the typical annual property tax bill reaches $4,847, far exceeding the national median of $2,690. Property taxes in Carrboro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Carrboro'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 Carrboro 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
Carrboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$4,887
Ownwell’s Carrboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carrboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carrboro to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Carrboro, North Carolina
Property taxes in Carrboro, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Carrboro is 1.72%, significantly higher than the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Carrboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carrboro 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 Carrboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27510 zip code has the highest median property tax rate of 1.72%, while the same zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Carrboro provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carrboro Tax Rate
1.72%
Average Orange County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carrboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27510 | 1.69% | 1.70% | 1.72% | 1.77% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Carrboro, North Carolina
In Carrboro, 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 Orange County Appraisal District 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 Carrboro, 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Carrboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carrboro are both $4,847, found in the zip code 27510.
Property Tax Assessment Values Across Carrboro, North Carolina
Source: Ownwell
$30,900
$291,050
$551,200
Average Carrboro Assessed Value
$284,100
Average Orange County Assessed Value
$295,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carrboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27510 | $113,100 | $176,300 | $284,100 | $376,875 | $462,170 |
Source: Ownwell
Property Tax Bills Across Carrboro, North Carolina
In Carrboro, NC, property tax bills are primarily calculated based on the assessed value of a home, which is determined by Orange County. The tax rate is applied to this assessed value to generate the annual tax bill. The median home price in Carrboro is $284,100, and the median property tax rate for the area is notably higher than the national median of 0.99%. Several factors influence the assessed value, including the home's size, location, and condition. For homeowners in Carrboro, tax bills can vary significantly. For instance, the 25th percentile tax bill is $3,069, while the 75th percentile is $6,381, and the 90th percentile reaches up to $7,820. The highest and lowest median tax bills in Carrboro both stand at $4,847, specifically in the 27510 zip code. These property tax bills impact homeowners by contributing to the overall cost of owning a home in Carrboro. Higher property taxes can affect affordability and the long-term financial planning of residents.
Average Carrboro Tax Bill
$4,847
Average Orange County Tax Bill
$3,822
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Carrboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27510 | $2,084 | $3,069 | $4,847 | $6,381 | $7,820 |
Source: Ownwell