Chapel Hill NC Relocation - Property Taxes
How Much Will I Pay in Property Taxes for My New Chapel Hill Home?
That's a very common question when considering purchasing a Chapel Hill new home.
Orange County holds Chapel Hill, the third corner of the Triangle - which consists of Raleigh, Durham, and Chapel Hill. Orange County is divided nearly in half by Hwy 40, which runs east/west between Raleigh/Durham and Greensboro. Mebane and Hillsborough are "middle ground" points between the two areas. Chapel Hill and Carrboro are on the southern side of the county, just north of Chatham County. Find out more about Orange County here.
If you're considering relocating to Orange County, you may have a Chapel Hill, Carrboro, Hillsborough, Mebane, Durham, Cedar Grove, Schley, Caldwell, or Carr street address.
Find Out What District Your New Chapel Hill Home is Located In
Ask your real estate agent what fire district or town the property resides in. If there's a particular home that you're considering, you can go directly to the Orange County Tax Records site, type in the address, and see the assessed value of the property, as well as the tax rate.
This chart shows the 2010 Orange County property tax rates. The 2010 fiscal year begins in July 2010, and runs through June 2011. If you are relocating to a home inside a town, the tax rate will be higher. If your new home will be outside of town boundaries, the tax rate can be extremely low.
Check the Tax Rate Tables for the Chapel Hill Property Tax Rate
The county rate gets combined with either the fire district rate or the town rate, depending on where the home for sale is located.
OK - But What Will I Actually Pay in Chapel Hill Property Taxes?
What do all those little numbers mean? It's actually not as hard as it looks.
1. Take the assessed value of the property.
2. Divide by 100.
3. Multiply by the tax rate.
This will give you the yearly tax amount, per 2010 fiscal year rates.
And just to give you an idea, here's a table of sample yearly tax payments for different sample assessed home values.
Chapel Hill NC has some of the highest property tax rates in the Triangle area. There is no guarantee that tax rates will remain the same - check the Orange County Property Tax page for most recent information.
As you can see, Chapel Hill School Districts inside city limits are some of the most expensive places to live in Orange County NC.
When looking at properties, don't take the "city" address for granted - you could be in a different county, with different tax rates, depending on where exactly the property is located.
How Do I Find Out the Assessed Value of My Chapel Hill Home?
If there's a particular home that you're considering, you can go directly to the Orange County Tax Records site, type in the address, and see the assessed value of the property.
What if the Assessed Value of my Chapel Hill home is Different From the Sales Price?
If there is a discrepancy between the assessed value and the asking price of the home or lot, don't be afraid to ask your real estate agent to pull comps for you. Assessed values are not always aligned well with market values, as assessments are often made several years apart.
Want to Compare Property Tax Rates for Counties in the Triangle?
Alamance County Property Tax Rates 2011
Cumberland County NC Property Tax Rates 2011
Chatham County NC Property Tax Rates 2011
Durham County NC Property Tax Rates 2011
Franklin County NC Property Tax Rates 2011
Granville County NC Property Tax Rates 2011
Johnston County NC Property Tax Rates 2011
Harnett County NC Property Tax Rates 2011
Orange County NC Property Tax Rates 2011
Wake County NC Property Tax Rates 2011
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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of any lot listings, but can work with homebuyers to purchase available lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.
