Triangle Counties have announced their budgets and property tax rates for Fiscal Year 2016-17, which will enable you to determine the annual tax bill for your home.
For example, if your home is in the City of Durham, your 2016 tax rate is 1.3011. If your home has a tax value of $250,000, your annual tax bill is calculated as follows:
$250,000 ÷ 100 + 2,500 x 1.3011 = $3,258
Provided below are the composite tax rates for Orange County, Chapel Hill, Carrboro, Hillsborough; Durham County, Durham City, and the areas in Durham that cross into neighboring counties (Chapel Hill, Morrisville & Raleigh); Chatham County; and Wake County, Raleigh, Cary, Apex, Morrisville, and Wake Forest.
The Chatham County Board of Commissioners has passed a $107.5 million budget that raises the county property tax just under 2 percent. This is the first tax increase since fiscal year 2010-11. According to Board Chairman Jim Crawford, “We all came together as a full board to approve a budget that prepares us for the future we know is coming. The budget includes critical funding for school projects on the horizon and a much-needed salary increase for our excellent county employees.
The Durham County Board of Commissioners has passed a $587.3 million budget that will include funding for schools and mental health programs. The county’s largest expenditure will be Durham Public Schools, which represents approximately 31 percent of the budget. The school system has requested a $4.39 million increase to its current funding of approximately $123.6 million. The budget will also fund a mental health court and pod for male inmates with mental health issues at the Durham County Jail.
The Orange County Board of Commissioners has passed a $242.3 million budget that includes an operating budget of $215.8 million. Orange County schools will receive $30.8 million and Chapel Hill-Carrboro schools will receive $46.4 million.The operating budget will utilize $12.7 million from Orange County’s fund balance to cover an expected shortfall, and another $2 million from the fund balance will be paid toward solid waste expenses.