Real estate property tax in North Carolina is a locally assessed tax, collected by the counties and towns. Real Estate taxes in NC are very low compared to other states. Tax rates are set by the Board of Commissioners in each County and by the Town Council in each town.
About Tax Appraised Values: The tax office appraises property every 4 years. Tax appraisals are usually much less than the actual market value of property. For example, we looked at house in Pinehurst that would sell for about $310,000. The “appraised value” for tax purposes is actually only $237,000. There is no specific reason that we know of for the difference, which is sometimes more pronounced and sometimes less pronounced. There is simply no formula for determining the Tax Appraised Value based on actual market value. All we know for sure is that it is always less than actual market value.
About Tax Rates: Tax rates are a combination of county tax and town tax. Tax rates for 2006 for all of the towns in Moore County are shown in the table below. If property is not located within any town limits, taxes are slightly lower – there is no town tax, but there is a partial tax imposed by the closest town to cover fire and rescue services originating from that town.
Computing Annual Property Tax: The total tax for the year is computed by multiplying the Tax Rate by the Tax Appraised Value for the property location. In the above example, the property is located in Pinehurst, where the tax rate is 0.805, or 80.5 cents per $100 of appraised value. The easiest way to do the math is like this:
Here are a few real life examples using actual houses and actual tax amounts. The latest available tax information is listed and you can click to see photos of these example homes.
Pinehurst 2 Bedroom Condo overlooking the Golf Course
Tax Appraised Value for 2006: $79,000
Property Taxes for 2006: $635.95
Sales Price in 2006: $175,000
See a photo: Pine Valley
Pinehurst 3 Bedroom, 2 ½ Bath Home overlooking the Golf Course
Tax Appraised Value for 2006: $260,680
Property Taxes for 2007: $2,090
Sales Price in 2006: $335,000
See a photo: St. Andrews
Pinehurst 3 Bedroom, 3 Bath Home on Lake Pinehurst
Tax Appraised Value for 2006: $637,530
Property Taxes for 2007: $5,130
Sales Price in 2006: $729,000
See a photo: Diamondhead
Southern Pines 4 Bedroom, 4 Bath Home
Tax Appraised Value for 2006: $387,900
Property Taxes for 2007: $3,472
Sales Price in 2006: $549,000
See a photo: Hill Road
3 Bedroom, 2 Bath Farmhouse in Moore County, Pond, Barn Pastures
Tax Appraised Value for 2006: $178,060
Property Taxes for 2006: $865
Sales Price in 2006: $395,000
See a photo: Lamms Grove
Click here to link to the
Moore County Tax Information System