Property values are reassessed every four-to-eight years, depending on the county.Orange, Durham and Wake counties reassess property values every four years.Chatham county has been reassessing property values every eight years. I am often asked how do you calculate real estate property taxes.
Each June, the town and county officials revise the tax rates depending on their budgetary needs.
Property taxes are calculated per $100 of assessed value. For example, if a property’s assessed value is $300,000 and the tax rate is 1.5, the annual taxes are $4,500 or $375 per month ($300,000/$100 x 1.5 = $4,500.
Provided below are links to the county tax offices.