Apex, North Carolina Property Taxes
The median property tax rate in Apex, NC is 0.84%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Apex at $542,161, the typical annual property tax bill reaches $4,767, significantly surpassing the national median of $2,690. Property taxes in Apex are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Apex'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 Apex 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
Apex, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$4,554
$4,226
Ownwell’s Apex Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Apex with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Apex 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 Apex, North Carolina
Property taxes in Apex, 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 Apex is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Apex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Apex 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 Apex's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27502 zip code has the same median property tax rate of 0.84%, while the 27523 zip code also has a median tax rate of 0.84%. Understanding how these areas compare with Apex provides valuable insights into the varying tax landscape across Chatham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Apex Tax Rate
0.84%
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 Apex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27502 | 0.36% | 0.81% | 0.84% | 0.85% | 0.87% |
| 27523 | 0.70% | 0.81% | 0.84% | 0.87% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Apex, North Carolina
In Apex, 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 Chatham 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 Apex, 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 is in zip code 27523 at $4,867, while the lowest is in zip code 27502 at $3,467. Being aware of these valuation processes in Apex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Apex Assessed Value
$542,161
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 Apex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27502 | $221,984 | $326,268 | $467,576 | $748,202 | $1,196,508 |
| 27523 | $245,530 | $385,627 | $542,520 | $749,204 | $1,047,225 |
Source: Ownwell
Property Tax Bills Across Apex, North Carolina
In Apex, property tax bills are calculated based on the assessed value of a home, which is determined by the Chatham County tax assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Apex homeowners see a range of tax bills, with the 25th percentile paying around $2,928 and the 75th percentile paying up to $5,979. For those in the 90th percentile, property tax bills can reach as high as $8,239. The median home price in Apex is $542,161, which significantly influences these tax amounts. Homeowners in the 27523 zip code experience the highest median tax bill at $4,867, while those in the 27502 zip code have a lower median bill of $3,467. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential for residents to understand how their tax bills are determined and what they support.
Average Apex Tax Bill
$4,767
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 Apex, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27502 | $1,553 | $2,423 | $3,467 | $4,963 | $7,656 |
| 27523 | $1,922 | $3,032 | $4,867 | $6,037 | $8,257 |
Source: Ownwell