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.