Property Tax Rates per $100 Value

Taxing Unit

1999

1998

1997

1996

1995

1994

1993

1992

1991

1990

Wake County

.73

.63

.63

.63

.63

.76

.76

.66

.88

.88

Town of Apex

.52

.52

.52

.52

.52

.52

.52

.52

.66

.66

Town of Cary

.54

.54

.54

.54

.54

.54

.54

.54

.68

.68

Town of Fuquay Varina

.59

.59

.59

.59

.59

.59

.59

.59

.70

.70

Town of Garner

.64

.64

.64

.64

.64

.64

.64

.64

.77

.77

Town of Holly Springs

.62

.62

.62

.62

.62

.62

.62

.57

.70

.70

Town of Knightdale

.53

.52

.52

.51

.51

.51

.51

.51

.59

.59

Town of Morrisville

.60

.60

.60

.60

.60

.60

.60

.60

.66

.66

City of Raleigh

.525

.525

.5375

.5375

.544

.5725

.6175

.6175

.785

.775

Town of Rolesville

.62

.55

.55

.55

.55

.55

.55

.55

.63

.63

Town of Wake Forest

.60

.56

.56

.56

.56

.56

.56

.53

.68

.675

Town of Wendell

.59

.59

.59

.59

.59

.59

.59

.60

.69

.69

Town of Zebulon

.525

.525

.525

.525

.525

.525

.465

.465

.57

.57

Source: Wake County Revenue Department

 

As reported in The North Carolina Association of County Commissioners Local Government web site www.iog.unc.edu/. Data is from the NCACC 2000-01 Budget and Tax Survey.

Counties with the Largest School Districts in North Carolina
COUNTY

Tax Rate 1999-2000

Tax Rate 2000-2001

Cumberland

$0.8400

$0.9000

Mecklenburg

$0.7300

$0.7300

Forsyth

$0.6625

$0.6745

Guilford

$0.6372

$0.6372

Wake

$0.7300

$0.5640


Counties in North Carolina that surround Wake County
COUNTY

Tax Rate 1999-2000

Tax Rate 2000-2001

Durham

$0.9297

$0.9297

Franklin

$0.8300

$0.8800

Johnston

$0.8500

$0.8500

Chatham

$0.8500

$0.8500

Vance

$0.9500

$0.8400

Granville

$0.7350

$0.7350

Harnett

$0.7300

$0.7300

Wake

$0.7300

$0.5640

As reported in the Comprehensive Annual Financial Report for the year ended June 30, 1999 web site www.osc.state.nc.us/financial/99_cafr/CAFR.HTM.

 

Wake County Historical Comparison of Assessed Value of Taxable Property
(Amounts Expressed in Millions)

Year Ended June 30

Tax Year Ended December 31

1999

1998

1998

1997

1997

1996

1996

1995

1995

1994

1994

1993

1993

1992 *

1992

1991

1991

1990

1990

1989

Real Property

$27,626

$25,972

$24,493

$23,054

$21,761

$20,843

$20,198

$13,275

$12,731

$12,195

Personal Property

8,515

7,765

6,839

5,903

5,327

5,131

4,111

4,113

3,678

3,391

Public Service

Companies

2,810

2,978

2,997

3,096

3,117

3,315

3,262

2,701

2,845

2,898

Total Assessed
Value 1

$38,951

$36,715

$34,329

$32,053

$30,205

$29,289

$27,571

$20,089

$19,254

$18,484

a

1 The County’s property tax is levied each July 1 on the assessed value listed as of the prior January 1 for all real and personal property located in the County except for certain registered motor vehicles which are assessed and collected throughout the year. Assessed valuations are established by the Board of County Commissioners at 100% of estimated market value for real property and 100% of actual value for personal property. Public service company property is certified by the State of North Carolina at 100% of actual value, with no distinction between real and personal property values.

* A revaluation of real property is required by N.C. General Statutes at least every eight years. The last revaluation was completed for tax year 1992.

Wake County Historical Comparison of Property Tax Collections
(Amounts Expressed in Millions)

Year Ended June 30

Tax Year Ended December 31

1999

1998

1998

1997

1997

1996

1996

1995

1995

1994

1994

1993

1993

1992

1992

1991

1991

1990

1990

1989

Total Tax Levy

$252,121

$237,057

$223,627

$208,651

$228,625

$227,379

$188,304

$182,079

$174,293

$150,785

Current Year Levy Collections

247,636

233,441

218,784

205,322

225,847

223,533

185,149

178,575

171,022

147,968

Percent of Levy Collections

98.22%

98.47%

97.83%

98.40%

98.78%

98.31%

98.32%

98.08%

98.12%

98.13%

Prior Years’ Levy Collections

4,509

5,116

3,557

3,826

3,218

2,272

2,842

2,378

2,108

1,580

Total Tax Collections and Rebates

252,145

238,557

222,341

209,148

229,065

225,805

187,991

180,953

173,130

149,548

Percent of Total Tax Collection to Tax Levy

100.01%

100.63%

99.42%

100.24%

100.19%

99.31%

100.02%

99.46%

99.33%

99.18%

Outstanding Delinquent Taxes

12,021

10,483

10,832

12,755

10,775

11,733

10,609

10,195

9,069

7,907

Percent of Delinquent Taxes of Tax Levy

4.77%

4.42%

4.84%

6.11%

4.71%

5.16%

5.63%

5.60%

5.20%

5.24%


Wake County Ten Principal Taxpayers
(Year ended June 30, 1999)

Firm

Type of Enterprise

1999 Assessed Valuation

Percentage of Total Assessed Valuation

*Tax Levy

Carolina Power and Light Company

Utility

$1,588,563,661

4.66

$10,007,951

NC Eastern Municipal Power Agency

Utility

343,757,582

1.01

2,165,673

Southern Bell Telephone & Telegraph Company

Utility

284,780,790

84

1,794,119

SAS Institute, Inc.

Software

134,382,878

.39

846,612

Highwoods Realty, LTD

Real Estate

122,353,200

.36

770,825

Glaxo Wellcome, Inc.

Manufacturing / Pharmaceutical

109,434,833

.32

689,444

Public Service Company of NC, Inc.

Utility

106,780,925

.31

672,720

CVM Associates

Real Estate

104,778,394

.31

660,104

Midway Airlines Corp.

Transportation

96,164,560

.28

605,837

UDRT of North Carolina LLC

Real Estate

84,463,022

.25

532,117

$2,975,459,845

8.73

$18,745,402

*Includes county property tax and late list penalty only; it does not include fire and special districts.