Morrisville, Wake County, North Carolina Property Taxes

Name: Property Tax Bills Across Morrisville, Wake County, North Carolina
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Morrisville, NC effective property tax rate: 1.06%, slightly higher than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Morrisville, NC home value: $344,983
Median annual Morrisville, NC tax bill: $3,619, $1,219 higher than the national median property tax bill of $2,400.

How are property taxes in Wake calculated?

Property taxes in Morrisville, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Morrisville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morrisville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Morrisville, Wake County, North Carolina Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.06%

Estimate Property Tax Bill

$3,657

$3,393

Ownwell’s Morrisville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morrisville with just two data points. By entering your property's estimated assessed value, our calculator applies Morrisville’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Wake County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Morrisville, Wake County, North Carolina

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the essence of the annual process. In Morrisville, located in Wake County, the effective property tax rate is 1.06%, which is slightly above the national median of 1.02%. This rate is consistent across the zip code 27560, highlighting a uniformity in property tax assessments within the area. Comparing Morrisville's rate to the state median, it aligns closely, indicating a standard approach to property tax valuation within North Carolina. Understanding these rates can help property owners anticipate their tax responsibilities and consider potential savings through appeals or exemptions.

Property Tax Rates Across Morrisville, Wake County, North Carolina

Source: Ownwell

0.67%

0.98%

1.29%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Morrisville Tax Rate

1.06%

Median Effective Wake County Tax Rate

1.10%

Median Effective North Carolina Tax Rate

0.82%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Morrisville, Wake County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
27560	1.01%	1.05%	1.06%	1.07%	1.07%

Source: Ownwell

Property Tax Assessment Values Across Morrisville, Wake County, North Carolina

When examining property taxes in Morrisville, NC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wake County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Wake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Morrisville. For example, the median home price in Morrisville is $344,983, with tax bills ranging significantly across the county. Zip code 27560 has the highest median home price at $344,983.

Property Tax Assessment Values Across Morrisville, Wake County, North Carolina

Source: Ownwell

$174,058

$394,571

$615,084

Median Morrisville Market Value

$344,983

Median Wake County Market Value

$302,078

Median North Carolina Market Value

$197,136

Median United States Market Value

$235,294

Property Tax Assessment Values Across Morrisville, Wake County, North Carolina

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
27560	$218,474	$270,572	$344,983	$420,591	$503,054

Source: Ownwell

Property Tax Bills Across Morrisville, Wake County, North Carolina

In Morrisville, NC, property tax bills are determined by multiplying the assessed value of a property by the local tax rate set by Wake County. The assessed value is typically a percentage of the market value, which is influenced by factors such as location, property size, and home improvements. For Morrisville homeowners, the median property tax bill is $3,619, higher than the national median of $2,400. This reflects the area's higher-than-average home values, with the median home price at $344,983. Tax bills can vary significantly, with the 25th percentile at $2,853 and the 90th percentile reaching $5,242. These fluctuations can impact homeowners' budgets, making it crucial to ensure that assessments are accurate. Ownwell offers valuable assistance by reviewing property assessments and identifying potential savings. By appealing incorrect assessments and securing exemptions, Ownwell helps homeowners reduce their tax burden, ensuring they only pay their fair share. This service can be particularly beneficial in high-tax areas like Morrisville.

Property Tax Bills Across Morrisville, Wake County, North Carolina

Source: Ownwell

$1,314

$3,992

$6,670

Median Morrisville Tax Bill

$3,619

Median Wake County Tax Bill

$3,098

Median North Carolina Tax Bill

$1,615

Median United States Tax Bill

$2,400

Property Tax Bills Across Morrisville, Wake County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
27560	$2,250	$2,853	$3,619	$4,424	$5,242

Source: Ownwell