Wake County, North Carolina Property Taxes
The median property tax rate in Wake County is 1.10%, which is 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 Wake County, the typical annual property tax bill reaches $3,098, surpassing the national median of $2,690. Property taxes in Wake 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 Wake 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 Raleigh or another part of Wake County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wake County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$3,323
$3,084
Ownwell’s Wake County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Wake County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Wake 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 Wake County, North Carolina
Property taxes in Wake County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wake County is 1.10%, which is higher than the U.S. national median of 0.99%. Local government entities within Wake County set these rates annually, and they can vary significantly between different areas within the county. Each year, Wake 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 Wake County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Garner has one of the higher property tax rates in North Carolina at 1.29%, while the city of Creedmoor boasts one of the lowest at 0.67%. Analyzing how Wake County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Wake County Tax Rate
1.10%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wake County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Angier | 0.81% | 1.23% | 1.23% | 1.23% | 1.23% |
| Apex | 0.79% | 1.01% | 1.10% | 1.10% | 1.11% |
| Cary | 1.00% | 1.01% | 1.01% | 1.01% | 1.01% |
| Clayton | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Creedmoor | 0.34% | 0.66% | 0.67% | 0.67% | 0.78% |
| Durham | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
| Fuquay Varina | 0.78% | 0.79% | 1.12% | 1.12% | 1.12% |
| Garner | 0.79% | 0.80% | 1.29% | 1.29% | 1.30% |
| Holly Springs | 0.79% | 1.08% | 1.08% | 1.09% | 1.09% |
| Knightdale | 0.79% | 0.79% | 1.11% | 1.12% | 1.12% |
| Morrisville | 1.01% | 1.05% | 1.06% | 1.07% | 1.07% |
| New Hill | 0.78% | 1.10% | 1.10% | 1.10% | 1.10% |
| Raleigh | 0.78% | 1.09% | 1.10% | 1.10% | 1.10% |
| Rolesville | 1.12% | 1.19% | 1.21% | 1.23% | 1.26% |
| Wake Forest | 0.78% | 0.79% | 1.17% | 1.17% | 1.17% |
| Wendell | 0.78% | 0.79% | 1.27% | 1.29% | 1.31% |
| Willow Spring | 0.78% | 0.79% | 0.79% | 0.79% | 0.80% |
| Youngsville | 0.78% | 0.79% | 0.79% | 0.79% | 0.80% |
| Zebulon | 0.78% | 0.79% | 0.80% | 1.24% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Wake County, North Carolina
In Wake County, 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 Wake County 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 Wake County 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. Being aware of these valuation processes in Wake County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Wake County, New Hill has the highest median tax bill at $4,525, while Creedmoor has the lowest at $1,314. The median home price in Wake County is $302,078, with tax bills ranging from $2,213 at the 25th percentile to $5,634 at the 90th percentile.
Property Tax Assessment Values Across Wake County, North Carolina
Source: Ownwell
$174,058
$394,571
$615,084
Average Wake County Assessed Value
$302,078
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wake County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Angier | $128,521 | $233,688 | $263,206 | $294,578 | $309,906 |
| Apex | $223,486 | $291,275 | $366,862 | $469,965 | $592,607 |
| Cary | $236,360 | $293,404 | $375,627 | $487,406 | $645,072 |
| Clayton | $157,271 | $183,384 | $229,426 | $282,736 | $336,030 |
| Creedmoor | $103,848 | $143,131 | $213,546 | $413,572 | $883,823 |
| Durham | $279,984 | $282,929 | $291,279 | $320,026 | $337,665 |
| Fuquay Varina | $179,357 | $230,117 | $285,924 | $348,190 | $416,809 |
| Garner | $128,788 | $166,323 | $214,490 | $286,717 | $367,074 |
| Holly Springs | $214,616 | $262,691 | $352,557 | $452,136 | $535,184 |
| Knightdale | $145,957 | $171,098 | $224,261 | $291,255 | $357,480 |
| Morrisville | $218,474 | $270,572 | $344,983 | $420,591 | $503,054 |
| New Hill | $266,052 | $349,391 | $425,317 | $476,424 | $652,529 |
| Raleigh | $156,011 | $197,730 | $274,892 | $401,596 | $586,673 |
| Rolesville | $192,934 | $258,638 | $331,115 | $397,569 | $455,547 |
| Wake Forest | $171,962 | $244,343 | $331,294 | $424,318 | $572,106 |
| Wendell | $114,323 | $147,613 | $216,719 | $298,210 | $361,439 |
| Willow Spring | $109,490 | $178,765 | $254,006 | $328,777 | $396,453 |
| Youngsville | $111,965 | $153,297 | $174,058 | $209,419 | $396,622 |
| Zebulon | $112,207 | $147,416 | $220,231 | $277,441 | $390,413 |
Source: Ownwell
Property Tax Bills Across Wake County, North Carolina
In Wake County, NC, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Wake County is $302,078, and homeowners can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $2,213, while the 75th percentile tax bill reaches approximately $4,249. At the higher end, the 90th percentile tax bill can go up to $5,634. These figures highlight the range of property tax burdens within the county. Factors such as property location, home improvements, and market conditions influence the assessed value, which in turn affects the tax bill. Homeowners in New Hill face the highest median tax bill at $4,525, while those in Creedmoor benefit from the lowest median tax bill at $1,314. Compared to the national median property tax rate of 0.99%, Wake County's tax bills reflect a significant variation, impacting homeowners differently across the region.
Average Wake County Tax Bill
$3,098
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Wake County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Angier | $1,061 | $2,866 | $3,225 | $3,607 | $3,805 |
| Apex | $2,193 | $2,981 | $3,845 | $4,932 | $5,999 |
| Cary | $2,287 | $2,913 | $3,755 | $4,861 | $6,456 |
| Clayton | $1,117 | $1,427 | $1,791 | $2,215 | $2,613 |
| Creedmoor | $534 | $832 | $1,314 | $2,219 | $4,955 |
| Durham | $3,411 | $3,455 | $3,551 | $3,671 | $4,053 |
| Fuquay Varina | $1,624 | $2,291 | $2,953 | $3,601 | $4,278 |
| Garner | $1,159 | $1,911 | $2,492 | $3,313 | $4,469 |
| Holly Springs | $2,214 | $2,723 | $3,605 | $4,789 | $5,665 |
| Knightdale | $1,179 | $1,452 | $2,149 | $2,973 | $3,674 |
| Morrisville | $2,250 | $2,853 | $3,619 | $4,424 | $5,242 |
| New Hill | $2,116 | $3,580 | $4,525 | $5,097 | $6,706 |
| Raleigh | $1,551 | $2,045 | $2,834 | $4,035 | $5,867 |
| Rolesville | $2,353 | $3,089 | $3,880 | $4,671 | $5,313 |
| Wake Forest | $1,595 | $2,410 | $3,436 | $4,478 | $5,456 |
| Wendell | $897 | $1,379 | $2,209 | $3,266 | $4,129 |
| Willow Spring | $810 | $1,375 | $1,940 | $2,556 | $3,092 |
| Youngsville | $809 | $1,190 | $1,337 | $1,595 | $2,922 |
| Zebulon | $913 | $1,415 | $2,212 | $2,973 | $3,434 |
Source: Ownwell