How To Calculate A Tax Bill
Multiply the applicable county and municipal/district combined tax rate to the county tax appraisal of the property.
Example 1, Real Property Taxes:
The 2002 county tax rate for Wake county was set by July 1, 2002 at .63. This means property will be appraised at 63 cents per $100 value. Property that was to be listed as of January 1, 2002 would be subject to this tax rate. My house market value as of the last reappraisal was $100,000. The tax rate for the district that I live in within Wake county is an additional 25 cents per $100 value. My 2002 taxes would be:
$100,000/100 x .88 = $880
Some counties may add additional fees.
Example 2, Motor Vehicle Taxes:
I live in the same house as described above and the tag on my car expires in August 2002. The assessor will automatically send me a bill about 3-4 months after I renew. By North Carolina Statute, the assessor determines the value as of the January 1 of the year the taxes are due, so the value is of January 1, 2002. The value is determined to be $12,000. My 2002 taxes on my car would be:
$12,000/100 x .88 = $105.60, due December 1, 2002
Some counties may add a vehicle fee or other fees.
Note that with motor vehicle taxes, the rates that are in effect at the time of renewal are the rates used to calculate the taxes.
- Pay a Bill or Notice
- Taxpayer Self-Help
- Tax Information
- 2014 Individual Income Tax Law Changes
- 2015 Income Tax Estimator
- Understanding Your Notice
- Collections – Past Due Taxes
- Taxpayer Advocate
- Armed Forces
- Resolving Disputes
- Periodic Review of Existing Rules
- Property Auctions
- Reports and Statistics
- Tax Seminars
- Identity Theft