Considering the median home value in the county is $172,900, that leads to an effective property tax rate of 1.04% in Guilford. The county’s median annual property tax payment is $1,798. Property taxes in Guilford County rank near the top of all counties in North Carolina. The county’s average effective rate is just 0.96%. In comparison to other major North Carolina counties, the average property tax rates in Wake County are relatively low. Wake County is located in central North Carolina and encompasses the state capital of Raleigh. If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Charlotte can help you out. All of those rates apply to assessed value, which was last calculated in 2019 in Mecklenburg County. A fire service rate of 0.067% and a police district rate of 0.178% applies to unincorporated areas in Charlotte. In Charlotte, the total city and county rate was 0.965% for 2019-2020. The average effective property tax rate in Mecklenburg County is 1.03%, which ranks as the 13th-highest rate in the state.

One of the most populous counties in North Carolina, Mecklenburg County encompasses the city of Charlotte as well as several of its suburbs. Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator. The table below shows the average effective tax rate, median home value and median annual tax payment for every county in North Carolina. An effective tax rate is the annual property tax paid as a percentage of total home value. For that reason, it is useful to look at effective tax rates. Since properties are reassessed so rarely in North Carolina, assessed values can differ greatly from actual home values, and it can be difficult to compare rates from one area to the next. Cities and counties can levy their own taxes, and special tax districts in some areas also collect property taxes for services like fire protection. There is no state property tax in North Carolina, which means tax rates are determined entirely by local governments. In 2020, seniors with a total income of $31,000 or less were eligible for this exemption. Seniors may be eligible for the homestead property tax exemption, which reduces their home's assessed value by the greater of 50% or $25,000. It is also common to contact local officials before filing an official appeal to see if the issue can be settled informally.īarring an appeal, the local tax rate applies to the assessed value determined by the county assessor. If you disagree with your revaluation in North Carolina, you can appeal to the local Board of Equalization. An appraisal that is too high can mean nearly a decade of over-taxation.

Since that reappraised value will affect a homeowner’s taxes for as many as eight years, it is important for homeowners to ensure that the value is accurate. The goal of the reappraisal is to determine the current market value of the property. A county assessor determines the value of a property and is required to revalue a property at least once every eight years. North Carolina’s property tax is “ad valorem,” which means that it is based on the value of property. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. The average effective property tax rate in North Carolina is 0.70%, which compares rather favorably to the 0.99% national average.Ĭheck out our North Carolina mortgage rates guide for information about purchasing or refinancing properties in the state.Ī financial advisor can help you understand how homeownership fits into your overall financial goals. North Carolina’s property tax rates are nonetheless relatively low in comparison to what exists in other states. Property taxes in North Carolina are a key source of revenue for local governments, providing funding for services such as public education and law enforcement. North Carolina Property Taxes Photo credit: ©/Eifel Kreutzīuying a home in Raleigh, Burlington, Charlotte or another North Carolina city? If so, you’ll want to know what to expect on your annual property tax bill.

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