In most counties, you must specifically submit a homestead exemption application to your county tax assessor in order to enjoy the tax reduction and other benefits available. Getting a Homestead Exemption may also help protect your home from being repossessed in the case of a property tax lien due to unpaid Wake County property taxes or other types of other debt. The Wake County Homestead Exemption can reduce the appraised valuation of a primary residence before calculating the property tax owed, resulting in a lower annual property tax rate for owner-occupied homes. Proceeds of the sale first go to pay the property's tax lien, and additional proceeds may be remitted to the original owner.įor properties considered the primary residence of the taxpayer, a homestead exemption may exist. In cases of extreme property tax delinquency, the Wake County Tax Board may seize the delinquent property and offer it for sale at a public tax foreclosure auction, often at a price well under market value. Property tax delinquency can result in additional fees and interest, which are also attached to the property title. Tax liens are not affected by transferring or selling the property, or even filing for bankruptcy. Unpaid property tax can lead to a property tax lien, which remains attached to the property's title and is the responsibility of the current owner of the property. Unlike other taxes which are restricted to an individual, the Wake County Property Tax is levied directly on the property. Property tax income is almost always used for local projects and services, and does not go to the federal or state budget. Proceeds from the Wake County Personal Property Tax are used locally to fund school districts, public transport, infrastructure, and other municipal government projects. You can look up the Wake County Assessor's contact information here (opens in external website).
Most county assessors' offices are located in or near the county courthouse or the local county administration building. These property tax records are excellent sources of information when buying a new property or appealing a recent appraisal. The Tax Assessor's office can also provide property tax history or property tax records for a property. The Wake County Tax Assessor is responsible for assessing the fair market value of properties within Wake County and determining the property tax rate that will apply. Our data allows you to compare Wake County's property taxes by median property tax in dollars, median property tax as a percentage of home value, and median property tax as a percentage of the Wake County median household income. You can use these numbers as a reliable benchmark for comparing Wake County's property taxes with property taxes in other areas. The median property tax amount is based on the median Wake County property value of $222,300. Instead, we provide property tax information based on the statistical median of all taxable properties in Wake County.
Wake County collects, on average, 0.81% of a property's assessed fair market value as property tax. The median property tax in Wake County, North Carolina is $1,793 per year for a home worth the median value of $222,300.
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