Durham, North Carolina Property Taxes
The median property tax rate in Durham, NC is 0.98%, slightly below the national median of 0.99% but significantly higher than the North Carolina state median of 0.82%. With a median home value of $292,100 in Durham, the typical annual property tax bill amounts to $2,925, surpassing the national median of $2,690. Property taxes in Durham are calculated based on the assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Durham'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 Durham 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
Durham, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$2,863
Ownwell’s Durham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Durham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Durham 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 Durham, North Carolina
Property taxes in Durham, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durham is 1.22%, significantly higher than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Durham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durham 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 Durham's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27713 zip code has the highest median property tax rate of 1.23%, while the 27703 zip code has the lowest median tax rate of 0.92%. Understanding how these areas compare with Durham 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 Durham Tax Rate
0.98%
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 Durham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27703 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
| 27704 | 0.95% | 0.98% | 1.03% | 1.07% | 1.10% |
| 27705 | 0.94% | 0.96% | 0.98% | 1.02% | 1.08% |
| 27707 | 1.16% | 1.17% | 1.19% | 1.22% | 1.30% |
| 27712 | 0.94% | 0.96% | 0.97% | 0.98% | 1.00% |
| 27713 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Durham, North Carolina
In Durham, 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 Durham, 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. For instance, the highest median tax bill in Durham is $5,050 in the 27707 zip code, while the lowest is $284 in the 27703 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Durham Assessed Value
$292,100
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 Durham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27703 | $30,900 | $30,900 | $30,900 | $30,900 | $30,900 |
| 27704 | $39,940 | $40,150 | $40,500 | $40,850 | $41,060 |
| 27705 | $64,420 | $151,250 | $273,600 | $492,650 | $710,700 |
| 27707 | $193,450 | $258,850 | $428,750 | $686,725 | $1,225,650 |
| 27712 | $73,500 | $279,000 | $377,500 | $504,000 | $635,100 |
| 27713 | $269,500 | $269,500 | $269,500 | $269,500 | $269,500 |
Source: Ownwell
Property Tax Bills Across Durham, North Carolina
In Durham, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, Durham's property tax rate is influenced by multiple factors, including local government budget needs and public service funding. Homeowners in Durham experience a range of property tax bills. The 25th percentile tax bill is approximately $1,596, while the 75th percentile reaches around $4,923. High-value properties can see tax bills as steep as $7,120 at the 90th percentile. The highest median tax bill in the area is found in the 27707 zip code, with homeowners paying about $5,050 annually. Conversely, the lowest median tax bill is in the 27703 zip code, at just $284. These varying tax bills significantly impact homeowners, influencing affordability and financial planning. With the national median property tax rate at 0.99%, Durham's rates reflect the local economic conditions and public service requirements, making it essential for homeowners to stay informed about their specific tax obligations.
Average Durham Tax Bill
$2,925
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 Durham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27703 | $284 | $284 | $284 | $284 | $284 |
| 27704 | $391 | $400 | $415 | $429 | $438 |
| 27705 | $650 | $1,505 | $2,684 | $4,708 | $6,736 |
| 27707 | $2,250 | $3,251 | $5,050 | $8,220 | $14,355 |
| 27712 | $706 | $2,752 | $3,672 | $4,703 | $5,818 |
| 27713 | $3,314 | $3,314 | $3,314 | $3,314 | $3,314 |
Source: Ownwell