Durham, Durham County, North Carolina Property Taxes
The median property tax rate in Durham, NC is 1.31%, significantly higher 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 $217,050, the typical annual property tax bill reaches $2,747, surpassing the national median of $2,690. Property taxes in Durham are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as 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, Durham County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$2,843
$2,639
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, Durham County, 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 1.31%, higher than both the North Carolina state median 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 27701 zip code has the highest median property tax rate of 1.31%, while the 27712 zip code has the lowest median tax rate of 1.31%. Understanding how these areas compare with Durham provides valuable insights into the varying tax landscape across Durham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durham Tax Rate
1.31%
Average Durham County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durham, Durham County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27701 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
| 27703 | 1.04% | 1.31% | 1.31% | 1.31% | 1.31% |
| 27704 | 1.02% | 1.31% | 1.31% | 1.31% | 1.31% |
| 27705 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
| 27707 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
| 27712 | 0.96% | 0.99% | 1.31% | 1.31% | 1.31% |
| 27713 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Durham, Durham County, 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 Durham County Tax Administration 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. 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 Durham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27705 at $3,315, while the lowest is 27704 at $2,088.
Property Tax Assessment Values Across Durham, Durham County, North Carolina
Source: Ownwell
$164,928
$252,967
$341,005
Average Durham Assessed Value
$217,050
Average Durham County Assessed Value
$220,810
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durham, Durham County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27701 | $79,402 | $122,178 | $216,360 | $355,231 | $502,119 |
| 27703 | $92,519 | $148,762 | $211,794 | $293,590 | $361,693 |
| 27704 | $105,505 | $133,420 | $164,928 | $198,196 | $234,574 |
| 27705 | $131,253 | $182,714 | $258,665 | $381,442 | $514,504 |
| 27707 | $114,876 | $144,973 | $234,060 | $344,004 | $499,828 |
| 27712 | $159,453 | $188,072 | $229,057 | $288,258 | $363,451 |
| 27713 | $149,905 | $189,730 | $242,008 | $312,474 | $380,790 |
Source: Ownwell
Property Tax Bills Across Durham, Durham County, North Carolina
In Durham, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Durham County tax assessor and reflects the market value of the property. Homeowners in Durham typically face property tax bills that vary significantly, influenced by the specific zip code and the home's assessed value. For instance, the median home price in Durham is $217,050, and property tax bills range widely, with the 25th percentile at $1,948 and the 75th percentile at $3,858. The highest median tax bill is found in the 27705 zip code, amounting to $3,315, while the lowest is in the 27704 zip code at $2,088. These figures are substantial when compared to the national median property tax rate of 0.99%. The tax bill directly impacts homeowners, as higher assessed values and rates result in higher annual expenses. Understanding these factors helps homeowners budget effectively and anticipate their financial commitments.
Average Durham Tax Bill
$2,747
Average Durham County Tax Bill
$2,770
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Durham, Durham County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27701 | $1,020 | $1,582 | $2,808 | $4,631 | $6,566 |
| 27703 | $1,183 | $1,817 | $2,719 | $3,815 | $4,705 |
| 27704 | $1,231 | $1,641 | $2,088 | $2,552 | $3,004 |
| 27705 | $1,601 | $2,346 | $3,315 | $4,911 | $6,648 |
| 27707 | $1,440 | $1,841 | $3,013 | $4,476 | $6,535 |
| 27712 | $1,693 | $2,091 | $2,639 | $3,480 | $4,487 |
| 27713 | $1,925 | $2,446 | $3,120 | $3,987 | $4,880 |
Source: Ownwell