{"id":2825,"date":"2016-04-19T07:56:42","date_gmt":"2016-04-19T07:56:42","guid":{"rendered":"https:\/\/www.movoto.com\/foundation\/?p=2825"},"modified":"2016-04-19T07:56:42","modified_gmt":"2016-04-19T07:56:42","slug":"durham-property-tax-how-does-it-compare-to-other-major-cities","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/durham-property-tax-how-does-it-compare-to-other-major-cities\/","title":{"rendered":"Durham Property Tax: How Does It Compare To Other Major Cities?"},"content":{"rendered":"

Shopping for a home in the Bull City<\/a> is an exciting journey with twists and turns. Plenty of hard work goes into the research process, but some of it can be fun\u00a0too. The discovery of great real estate deals, local cultural finds, and amenities within walking distance<\/a> are some of its delightful detours.<\/p>\n

Taxes, however, obviously aren\u2019t in the list. As the famous saying goes, no one likes to deal with taxes any more than death. Both have ironic roles\u00a0as inevitable burdens to those who are living.\u00a0While we can’t\u00a0soften the blow of the latter, we hope to make the former a little easier for you with this Q&A guide to Durham property tax rates. Let\u2019s take a look at some frequently asked questions about property taxes in the Bull City and how they compare to other cities in the rest of the country.<\/p>\n

What are the property tax rates like in Durham, NC?<\/b><\/p>\n

\"Durham<\/p>\n

Source: wikimedia.org<\/em><\/div>\n

Durham property tax rates aren\u2019t the cheapest deal on the block, but they have a consistent pattern. A 2014 property tax analysis shows the effective tax rate in Durham County was 1.18 percent, or $2,611 on average for most homeowners. For those who aren\u2019t familiar with accounting speak, the effective tax rate<\/em> is the average property tax owed on a single family home divided by its average estimate value.<\/p>\n

Like many cities, Durham\u2019s city tax rates increase for homes that are closer\u00a0to downtown. These rates have held b with ranges over 50 to 60 cents each year since 2008 and have steadily climbed by three to four cents in the\u00a0most current years. Close proximity\u00a0to Duke University and the Duke University Hospital plays\u00a0a significant role in this, since property tax dollars are usually directed to fund educational institutions, emergency services, transportation, and public libraries.<\/p>\n

Though Durham property tax rates lean toward the higher side, there are ample opportunities to find beautiful homes with affordable prices<\/a> inside the county. Builders and homeowners in Durham who encounter difficulty keeping up with tax payments may also be eligible to participate in one of Durham County\u2019s Property Tax Relief Programs<\/a>.<\/p>\n

How do Durham property tax rates compare with other cities in the Research Triangle?<\/b><\/p>\n

The Research Triangle is the metropolitan area in North Carolina\u2019s Piedmont region. It primarily consists of the cities Raleigh, Durham, and Chapel Hill with Cary on its outskirts.<\/p>\n

Much of Chapel Hill resides in Orange County,\u00a0Durham County\u2019s westward neighbor. In 2014, the average property tax rates in Orange County were 1.30 percent, or $5,888 \u2013 a significant difference from Durham\u2019s $2,611. Raleigh, however, ranked slightly lower than Durham. Wade County, where Raleigh resides and\u00a0Durham County\u2019s neighbor to the east, was 0.85 percent in 2014, or $2,432 on average.<\/p>\n

Other counties at close proximity to the Research Triangle vary in their 2014 percentage rates, but have noticeably lower price tags after the math is applied. For example, Johnston County\u2019s effective property tax rate was higher than Wade\u2019s at 0.91 percent, but the average property tax was much less at $1,603. Lee County\u2019s property tax rates were even lower at 0.68 percent with an average in the triple digits at $993.<\/p>\n

This is likely due to the fact that these counties are further away from the downtown areas, take a longer commute time, and are less populated than their metropolitan counterparts.<\/p>\n

How do Durham property tax rates measure up to major cities in the nation?<\/b><\/p>\n

\"Durham<\/p>\n

Source: wikimedia.org<\/em><\/div>\n

On the larger scope of property taxes in cities throughout the United States, Durham, NC is actually pretty affordable. In fact, North Carolina itself ranks among the 15 least expensive states in the country with a 0.88 percent effective tax rate. The average national effective tax rate is 1.29 percent.<\/p>\n

Who ranked the highest of all property taxes in the country? That award would go to Westchester County, New York<\/a>, with its average tax rate at a whopping $56,124 per year and effective tax rate of 7.53 percent. Westchester County is located north of Manhattan in New York City.<\/p>\n

Other major cities with the highest median property taxes include:<\/p>\n

2. Hartford, CT at $4,774 per year<\/p>\n

3. Chicago, IL at $4,302 per year<\/p>\n

4. Milwaukee, WI at 3,938 per year<\/p>\n

5. Providence, RI at $3,668 per year<\/p>\n

6. Dallas, TX at $2,805 per year<\/p>\n

Which states have the lowest property tax rates?<\/b><\/p>\n

Other states score top ranks on the other end of the spectrum. What is the state with the lowest property tax rate in the country? That title goes to Hawaii, with a remarkable 0.28 percent and $1,389 per year. Before you book a one-trip ticket there though, consider this fact \u2013 Hawaii\u2019s property tax is amazingly low, but its sales tax and cost of living are much higher than most other states.<\/p>\n

The other states with the lowest property tax rates are:<\/p>\n

2. West Virginia at $415 per year<\/p>\n

3. Alabama at $452 per year<\/p>\n

4. Arkansas at $504 per year<\/p>\n

5. Louisiana at $849 per year<\/p>\n

6. Colorado at $1,829 per year<\/p>\n

Most of these states carry effective tax rates of 0.6 percent or less.<\/p>\n

Durham property tax: In summary<\/b><\/p>\n

\"Durham<\/p>\n

Source: wikimedia.org<\/em><\/div>\n

While it\u2019s tempting to think that areas with the lowest property tax rates are the best places to move to, keep in mind that it\u2019s also important for home buyers to look at neighborhood demographics, the price values of homes, household incomes, and other factors. In North Carolina, the averages were about the same from the different price points\u00a0across the state.<\/p>\n

No one enjoys dealing with taxes as a pastime, but each of us will have to stare down its ugly face at some point. To learn more about Durham property taxes and how they involve the home buying process, contact a real estate agent<\/a> in your area for details.<\/p>\n

2 Point Highlight<\/h2>\n

“The effective tax rate<\/em> is the average property tax owed on a single family home divided by its average estimate value.”<\/p>\n

“North Carolina itself ranks among the 15 least expensive states in the country, with a 0.88 percent effective tax rate.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Shopping for a home in the Bull City is an exciting journey with twists and turns. Plenty of hard work goes into the research process, but some of it can be fun\u00a0too. The discovery of great real estate deals, local cultural finds, and amenities within walking distance are some of its delightful detours. Taxes, however, obviously aren\u2019t in the list. As the famous saying goes, no one likes to deal with taxes any more than death. Both have ironic roles\u00a0as inevitable burdens to those who are living.\u00a0While we can’t\u00a0soften the blow of the latter, we hope to make the former […]<\/p>\n","protected":false},"author":3,"featured_media":2826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[249],"tags":[],"class_list":["post-2825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-taxes","post--single"],"yoast_head":"\nDurham Property Tax: How Does It Compare To Other Major Cities?<\/title>\n<meta name=\"description\" content=\"Got a budget in mind while shopping homes in Durham? Don't forget property taxes! 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