Chatham County, North Carolina Property Taxes
The median property tax rate in Chatham County is 0.85%, which is lower than the national median of 0.99% but slightly higher than the North Carolina state median of 0.82%. With a median home value of $323,510, the typical annual property tax bill in Chatham County is $2,675, just below the national median of $2,690. Property taxes in Chatham County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Chatham County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Pittsboro or another part of Chatham County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chatham County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,750
$2,552
Ownwell’s Chatham County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Chatham County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Chatham County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Chatham County, North Carolina
Property taxes in Chatham County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Chatham County is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Chatham County set these rates annually, and they can vary significantly between different areas within the county. Each year, Chatham County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Chatham County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Cary has one of the higher property tax rates in North Carolina at 1.03%, while the city of Robbins boasts one of the lowest at 0.68%. Analyzing how Chatham County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Chatham County Tax Rate
0.85%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chatham County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apex | 0.67% | 0.81% | 0.84% | 0.87% | 1.03% |
| Bear Creek | 0.50% | 0.75% | 0.84% | 0.90% | 0.99% |
| Bennett | 0.50% | 0.78% | 0.86% | 0.91% | 0.98% |
| Bonlee | N/A | N/A | N/A | N/A | N/A |
| Cary | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% |
| Chapel Hill | 0.81% | 0.83% | 0.84% | 0.85% | 0.87% |
| Durham | 0.72% | 0.80% | 0.81% | 0.82% | 0.84% |
| Goldston | 0.57% | 0.80% | 0.93% | 1.08% | 1.26% |
| Holly Springs | N/A | N/A | N/A | N/A | N/A |
| Liberty | 0.42% | 0.66% | 0.82% | 0.86% | 0.92% |
| Moncure | 0.60% | 0.83% | 0.87% | 0.91% | 0.96% |
| New Hill | 0.54% | 0.82% | 0.85% | 0.88% | 0.93% |
| Pittsboro | 0.71% | 0.83% | 0.85% | 0.90% | 1.20% |
| Robbins | N/A | N/A | N/A | N/A | N/A |
| Sanford | 0.46% | 0.81% | 0.86% | 0.91% | 1.01% |
| Siler City | 0.58% | 0.80% | 0.89% | 1.22% | 1.23% |
| Snow Camp | 0.45% | 0.66% | 0.81% | 0.86% | 0.91% |
| Staley | 0.61% | 0.79% | 0.89% | 0.98% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Chatham County, North Carolina
In Chatham, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Chatham Appraisal District. The assessed value, however, 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. Assessment notices in Chatham are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Durham has the highest median tax bill at $5,647, while Bonlee has the lowest at $434. Being aware of these valuation processes in Chatham will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Chatham County, North Carolina
Source: Ownwell
$108,164
$413,964
$719,763
Average Chatham County Assessed Value
$323,510
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chatham County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apex | $242,962 | $378,838 | $542,161 | $749,143 | $1,051,829 |
| Bear Creek | $63,798 | $98,862 | $154,092 | $236,834 | $345,862 |
| Bennett | $58,137 | $92,340 | $151,728 | $224,461 | $289,866 |
| Bonlee | N/A | N/A | N/A | N/A | N/A |
| Cary | $316,922 | $365,124 | $452,535 | $530,725 | $656,120 |
| Chapel Hill | $230,338 | $342,336 | $430,876 | $549,600 | $722,192 |
| Durham | $259,226 | $476,812 | $719,763 | $1,078,246 | $2,367,946 |
| Goldston | $54,617 | $85,046 | $135,616 | $201,403 | $279,236 |
| Holly Springs | N/A | N/A | N/A | N/A | N/A |
| Liberty | $80,974 | $101,140 | $154,618 | $207,986 | $245,874 |
| Moncure | $97,275 | $147,459 | $228,518 | $363,164 | $496,487 |
| New Hill | $109,268 | $173,143 | $348,073 | $505,117 | $689,912 |
| Pittsboro | $160,855 | $229,548 | $331,566 | $464,836 | $604,634 |
| Robbins | N/A | N/A | N/A | N/A | N/A |
| Sanford | $89,400 | $155,208 | $239,540 | $341,360 | $504,756 |
| Siler City | $57,080 | $86,912 | $130,637 | $207,625 | $332,189 |
| Snow Camp | $91,973 | $136,564 | $223,717 | $319,636 | $470,144 |
| Staley | $57,991 | $75,912 | $108,164 | $174,485 | $257,544 |
Source: Ownwell
Property Tax Bills Across Chatham County, North Carolina
Property tax bills in Chatham County, NC, are calculated based on the assessed value of a property, which is determined by the county's tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Chatham County, the median home price is $323,510, and the property tax rate is influenced by various factors, including market conditions and local government budgets. Homeowners in Chatham County can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $1,487, while the 75th percentile reaches $4,009. The 90th percentile goes up to $5,347, indicating significant variability based on property value and location. Comparatively, the highest median tax bill in nearby Durham is $5,647, whereas Bonlee has the lowest at $434. Understanding these factors is crucial for homeowners as property taxes can significantly impact annual expenses. Awareness of how these bills are calculated helps in better financial planning and property investment decisions.
Average Chatham County Tax Bill
$2,675
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Chatham County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Apex | $1,916 | $2,928 | $4,767 | $5,979 | $8,239 |
| Bear Creek | $514 | $796 | $1,210 | $1,782 | $2,442 |
| Bennett | $496 | $784 | $1,132 | $1,662 | $2,240 |
| Bonlee | N/A | N/A | N/A | N/A | N/A |
| Cary | $2,997 | $3,578 | $4,499 | $5,382 | $6,610 |
| Chapel Hill | $1,816 | $2,729 | $3,547 | $4,499 | $5,901 |
| Durham | $1,996 | $3,454 | $5,647 | $8,059 | $18,653 |
| Goldston | $480 | $720 | $1,183 | $1,833 | $2,585 |
| Holly Springs | N/A | N/A | N/A | N/A | N/A |
| Liberty | $510 | $721 | $993 | $1,596 | $1,960 |
| Moncure | $750 | $1,196 | $1,866 | $2,896 | $4,032 |
| New Hill | $847 | $1,424 | $2,825 | $3,761 | $5,224 |
| Pittsboro | $1,308 | $2,003 | $2,903 | $3,998 | $5,048 |
| Robbins | N/A | N/A | N/A | N/A | N/A |
| Sanford | $684 | $1,216 | $1,859 | $2,691 | $3,576 |
| Siler City | $540 | $804 | $1,207 | $1,794 | $2,490 |
| Snow Camp | $723 | $1,063 | $1,580 | $2,088 | $2,678 |
| Staley | $513 | $683 | $973 | $1,410 | $2,007 |
Source: Ownwell