Property tax in North Carolina: estimating your annual bill
Estimate North Carolina property tax from assessed value and your local rate, and plan for it monthly.
Key facts
| Place | North Carolina |
|---|---|
| Sales tax | State sales tax |
| Standard rate on file | 4.75% |
| Multiply net price by | 1.0475 |
| Tax share of a gross price | 4.53% |
| Currency | USD |
Assessed value and millage
Local governments in North Carolina assess property and apply a rate, often expressed in mills (dollars per $1,000 of assessed value). Divide the millage by 10 to get a percentage you can enter in the calculator.
Worked example
Here is the calculation with sample figures. Change any number in the North Carolina Property Tax Calculator to run your own.
| Assessed value | $300,000.00 |
| Tax rate (%) | 1% |
| Annual tax | $3,000.00 |
|---|---|
| Monthly tax | $250.00 |
Exemptions
Homestead, senior and veteran exemptions can lower the taxable value. Check with your county assessor.
Quick reference at 4.75%
Common amounts in North Carolina, worked both ways: adding tax to a net price, and extracting it from a price that already includes tax.
| Amount | Tax on net amount | Gross (net + tax) | Net if amount includes tax |
|---|---|---|---|
| $10.00 | $0.48 | $10.48 | $9.55 |
| $50.00 | $2.38 | $52.38 | $47.73 |
| $100.00 | $4.75 | $104.75 | $95.47 |
| $250.00 | $11.88 | $261.88 | $238.66 |
| $500.00 | $23.75 | $523.75 | $477.33 |
| $1,000.00 | $47.50 | $1,047.50 | $954.65 |
| $5,000.00 | $237.50 | $5,237.50 | $4,773.27 |
How North Carolina compares
Standard rates on file for other states. A difference of a few points matters most on high-value purchases and on cross-border sales.
| Place | Rate on file | Compared with 4.75% |
|---|---|---|
| New Jersey | 6.625% | higher |
| New Mexico | 4.875% | higher |
| New York | 4% | lower |
| North Dakota | 5% | higher |
| Ohio | 5.75% | higher |
| Oklahoma | 4.5% | lower |
Using the calculator step by step
- Open the North Carolina Property Tax Calculator.
- Type your figures into the numbered lines. Results update as you type.
- Check the rate field. It starts at 4.75%; change it if a reduced rate, local surcharge or exemption applies to you.
- Read the result on the receipt panel, and use the formula shown under it if you need to explain the figure to a client or colleague.
Key terms
- Taxable income
- Income left after allowances and deductions, on which the tax rates are applied.
- Zero rate
- A rate of 0% on a taxable supply. Unlike an exemption, the seller can usually still reclaim tax on costs.
- Tax credit
- An amount subtracted directly from the tax bill, worth its full face value.
- Standard rate
- The rate that applies to most goods and services unless a specific reduced rate, zero rate or exemption applies.
- Effective rate
- Total tax divided by total income, the average rate you actually pay.
Common mistakes to avoid
- Confusing market value and assessed value.
- Missing homestead exemption deadlines.
Run your own numbers. The North Carolina Property Tax Calculator updates as you type and shows the formula it uses.
Frequently asked questions
How do I convert a millage rate to a percentage?
Divide the mills by 10. For example, 20 mills is 2%.
Who sets property tax rates in North Carolina?
Local taxing authorities such as counties, cities and school districts.
This article is general information for planning, not tax advice. Rates and rules change; confirm with your tax authority or a qualified adviser.