Durham, North Carolina Property Taxes
The median property tax rate in Durham, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Durham at $285,100, the typical annual property tax bill is around $600, well below the national median of $2,690. Property taxes in Durham are calculated based on the assessed value, which often falls below market value due to various exemptions like those for primary residences and agricultural properties. 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, grasping 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
0.4%
Estimate Property Tax Bill
$1,140
$1,058
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durham is 1.22%, 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 highest median property tax rate in North Carolina is found in Orange County at 1.32%, while the lowest median tax rate is in Swain County at 0.33%. Understanding how these counties compare with Durham provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durham Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
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 |
|---|---|---|---|---|---|
| 27701 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27703 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27705 | N/A | N/A | N/A | N/A | N/A |
| 27707 | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
| 27712 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 27713 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Durham, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Durham, North Carolina. The market value represents 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 county's 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. The median home price in Durham is $285,100, with property tax bills ranging from $425 at the 25th percentile to $2,560 at the 90th percentile. The highest median tax bill is found in the 27712 zip code at $1,328, while the lowest is in the 27703 zip code at $260. 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.
Property Tax Assessment Values Across Durham, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Durham Assessed Value
$285,100
Average Avery County Assessed Value
$135,500
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 |
|---|---|---|---|---|---|
| 27701 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 |
| 27703 | $65,000 | $65,000 | $65,000 | $65,000 | $65,000 |
| 27705 | N/A | N/A | N/A | N/A | N/A |
| 27707 | $410,540 | $598,700 | $912,300 | $1,105,400 | $1,221,260 |
| 27712 | $114,200 | $150,500 | $211,000 | $271,500 | $307,800 |
| 27713 | $150,001 | $150,001 | $150,001 | $150,001 | $150,001 |
Source: Ownwell
Property Tax Bills Across Durham, North Carolina
In Durham, located in Avery County, NC, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. With a median home price of $285,100, homeowners can expect their property tax bill to vary significantly. Factors such as the property's location, improvements, and market conditions influence the assessed value. For example, the highest median tax bill in Durham is $1,328 in zip code 27712, while the lowest is $260 in zip code 27703. The tax rate in Durham is compared to the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $425, while those in the 75th percentile pay approximately $1,376. At the 90th percentile, the tax bill can reach up to $2,560. These variations highlight the importance of understanding local property tax calculations, as they directly impact homeowners' annual expenses.
Average Durham Tax Bill
$600
Average Avery County Tax Bill
$540
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 |
|---|---|---|---|---|---|
| 27701 | $600 | $600 | $600 | $600 | $600 |
| 27703 | $260 | $260 | $260 | $260 | $260 |
| 27705 | N/A | N/A | N/A | N/A | N/A |
| 27707 | $584 | $740 | $1,000 | $1,260 | $1,416 |
| 27712 | $1,328 | $1,328 | $1,328 | $1,328 | $1,328 |
| 27713 | $600 | $600 | $600 | $600 | $600 |
Source: Ownwell