Overview of North Carolina Taxes
North Carolina’s property tax rates are relatively low in comparison to those of other states. The effective property tax rate in North Carolina is 0.73%, well under the national average of 0.90%.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
North Carolina Property Taxes
Buying 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. 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’s property tax rates are nonetheless relatively low in comparison to what exists in other states. The effective property tax rate in North Carolina is 0.73%, while the median property tax bill is $1,724 – over $1,300 less than the national median.
Check out our North Carolina mortgage rates guide for information about purchasing or refinancing properties in the state.
A financial advisor can help you understand how homeownership fits into your overall financial goals. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
How North Carolina Property Taxes Work
North Carolina’s property tax is “ad valorem,” which means that it is based on the value of property. A county assessor determines the value of a property and is required to revalue a property at least once every eight years. The goal of the reappraisal is to determine the current market value of the property.
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. An appraisal that is too high can mean nearly a decade of over-taxation.
If you disagree with your revaluation in North Carolina, you can appeal to the local Board of Equalization. It is also common to contact local officials before filing an official appeal to see if the issue can be settled informally.
Barring an appeal, the local tax rate applies to the assessed value determined by the county assessor. 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. Seniors with a total income of $37,900 or less may be eligible for this exemption.
North Carolina Property Tax Rates
There is no state property tax in North Carolina, which means tax rates are determined entirely by local governments. Cities and counties can levy their own taxes, and special tax districts in some areas also collect property taxes for services like fire protection.
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. For that reason, it is useful to look at effective tax rates. An effective tax rate is the annual property tax paid as a percentage of total home value. The table below shows the average effective tax rate, median home value and median annual tax payment for every county in North Carolina.
Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator.
Mecklenburg County
One of the most populous counties in North Carolina, Mecklenburg County encompasses the city of Charlotte as well as several of its suburbs. The effective property tax rate in Mecklenburg County, home to Charlotte, is 0.80%, just above the statewide average. If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Charlotte can help you out.
Wake County
Wake County is located in central North Carolina and encompasses the state capital of Raleigh. In comparison to other major North Carolina counties, the property tax rates in Wake County are relatively low. The county’s effective rate is 0.75%, near the statewide average.
Guilford County
Property taxes in Guilford County rank near the top of all counties in North Carolina. The county’s median annual property tax payment is $1,982. Considering the median home value in the county is $215,700, that leads to an effective property tax rate of 0.92% in Guilford.
Forsyth County
The fourth-most populous county in North Carolina, Forsyth County has property tax rates somewhat higher than the state average. The effective property tax rate in Forsyth County is 0.90%.
The most recent revaluation in Forsyth County took place in 2021. The county has opted to revalue properties more frequently than the state minimum, which is eight years. So in this case, revaluations typically occur every four years.
Cumberland County
Cumberland County is located in eastern North Carolina and contains the city of Fayetteville. The effective property tax rate of 1.06% in Cumberland County ranks as the sixth-highest rate in the state. Based on this, property taxes on a home worth $166,600 (the median home value) would be $1,767 per year.
Durham County
Homeowners in Durham County pay some of the highest property taxes in the state. The county’s effective property tax rate is 0.93%, while the median property tax bill is $2,891.
Buncombe County
This western North Carolina County has property tax rates well below the state average. The county’s effective property tax rate is just 0.61%. The county’s last revaluation was in 2021 since it chooses to hold assessments every four years instead eight, which is the states minimum. However, the county commissioners voted to delay the next reevaluation until 2026.
Gaston County
Gaston County is situated west of Charlotte, along the border with South Carolina. The median home value in Gaston County is $206,700 and the median tax bill is $1,766 per year. As a result, the effective tax rate in this part of the state is 0.85%.
New Hanover County
According to the U.S. Census Bureau, the median home value in New Hanover County is $320,000, among the highest in North Carolina. It's no surprise, then, that the county’s median annual property tax payment is $1,996, higher than all but nine counties in the state.
Union County
Located to the southeast of Charlotte, Union County has among the lowest property tax rates of any county in the greater Charlotte metropolitan area. The county’s effective property tax rate is 0.65%, meaning a homeowner whose home is worth $336,600 (the county median) would pay about $2,195 annually in property taxes at that rate.
