Navigating property taxes can feel like a maze, but understanding the basics is key to your financial planning and success in the City of Oaks‘ housing market. This guide breaks down Raleigh property tax rates for 2025, covering how they’re calculated and important dates you need to know.

Raleigh property taxes in 2025

Simply put, property taxes are taxes levied on real estate by local government entities. In Raleigh, these taxes are a crucial funding source for essential public services like schools, infrastructure (roads, bridges), public safety (police and fire departments), parks, and libraries. Think of it as your contribution to the well-being and development of the Raleigh, North Carolina community.

How are property taxes in Raleigh calculated?

The calculation of your Raleigh property tax bill involves a few key components:

  • Assessed Value: Wake County, where Raleigh is located, determines the assessed value of your property. This assessment is based on the market value of your home or land as of a specific date. North Carolina law mandates revaluation at least every eight years, though Wake County often conducts them more frequently to reflect market changes. Wake County successfully conducted its most recent revaluation in 2024.
  • Tax Rate: This is the rate at which your assessed property value is taxed. It’s typically expressed as a dollar amount per $100 of assessed value. Tax rates are set by various taxing jurisdictions, including Wake County and the City of Raleigh.
  • Taxing Jurisdictions: Your property tax bill may include rates from multiple jurisdictions. For example, you’ll likely pay both Wake County property taxes and City of Raleigh property taxes. There might also be specific district taxes, such as fire district taxes, depending on your location within the county.

The basic formula for calculating property tax is: (Assessed Value / 100) x Tax Rate = Property Tax

For instance, if your home is assessed at $400,000 and the combined tax rate (City + County) is $0.75 per $100, your estimated property tax would be: ($400,000 / 100) x $0.75 = $3,000. Keep in mind this is a simplified example, and the actual rate might be slightly different.

Important dates for Raleigh property taxes

Staying on top of deadlines is crucial to avoid penalties. While specific dates can vary slightly year to year, here are some general timelines for Wake County property taxes:

  • July 2025: Tax bills mailed
  • July 1-June 30, 2025: Annual tax bills are calculated for the fiscal taxing period
  • January 5, 2026: Payment due date
  • After January 5th, 2026: Payments made after January 5th are generally considered delinquent and may incur interest charges.

While we’ve listed the above dates, it’s always a good idea to check the official Wake County Tax Administration website for the most up-to-date dates and information.

Where do my property taxes go?

Understanding where your tax dollars are allocated can provide valuable insight into the community benefits they support. In general, property taxes in Raleigh and Wake County fund:

  • Education: A significant portion goes towards public schools within Wake County.
  • Public Safety: This includes funding for police, sheriff’s departments, fire protection, and emergency medical services.
  • Infrastructure: Taxes support the maintenance and development of roads, bridges, and other public infrastructure.
  • Parks and Recreation: Funding for local parks, greenways, and recreational programs.
  • Libraries: Supporting the public library system.
  • Social Services: Providing assistance to residents in need.

What are the current Raleigh property tax rates?

For the fiscal year 2024-2025, which influences the tax bills mailed in the summer of 2024 and due in January 2025, the City of Raleigh’s property tax rate is $0.3550 per $100 of assessed value.

In addition to the city rate, homeowners in Raleigh also pay Wake County’s property tax rate, which for the 2024-2025 fiscal year is $0.5135 per $100 of assessed value.

Therefore, the combined general property tax rate for most properties within the City of Raleigh for the 2024-2025 fiscal year is $0.8685 per $100 of assessed value.

Keep in mind that additional special district taxes might apply depending on your specific location. Always refer to your official tax bill for the exact rates applicable to your property.

Will property taxes rise this year in Raleigh?

It’s important to stay informed about potential changes to property tax rates. Though Wake County and the City of Raleigh saw a decreased tax rate from the previous fiscal year, many homeowners saw an increase in their overall tax bills due to rising property values during the latest revaluation. 

This highlights the importance of understanding both the tax rate and your property’s assessed value. For the most current information on any potential future rate changes, it’s best to follow local news and official government announcements.

Nearby cities and their property tax rates

Understanding the property tax landscape in neighboring areas can be helpful for real estate professionals and those considering a move within the Research Triangle region. Here are the general city tax rates for some surrounding areas in Wake County for the 2024-2025 fiscal year (note that the county rate would be in addition to these):

  • Cary (partially in Wake County): 0.3250
  • Durham (Wake County portion): 0.5962
  • Apex: 0.3400
  • Morrisville: 0.3500

It’s crucial to remember that each municipality within Wake County (and other surrounding counties) sets its own property tax rate in addition to the county rate. Therefore, the total property tax burden can vary significantly between different cities and towns.

Master Raleigh property taxes

Understanding Raleigh property taxes is essential for real estate agents assisting clients and for homeowners managing their finances. By grasping how taxes are calculated, staying aware of important dates, and knowing the current rates, you can navigate the local real estate market with greater confidence. Always consult official resources like the Wake County Tax Administration for the most accurate and up-to-date information.

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FAQ

They fund essential local government services like schools, infrastructure, and public safety in Raleigh and Wake County.

It’s calculated by multiplying your property’s assessed value (divided by 100) by the applicable tax rate.

The payment is generally due by January 5, 2026.

The combined rate was $0.8685 per $100 of assessed value for most properties within Raleigh.

Many homeowners saw an increase due to rising property values from the latest revaluation in 2024.