North carolina State tax (Durham, Apex: property taxes, income, home)

[Mikis]

I'm trying to find out information about North Carolina state income tax. I'm in a state now that has no state income tax and if I move to NC state income tax is a factor that I will have to consider into the equation.

1.) I read that it is a flat rate of 7%. Is that accurate?

2.) Is it based on the same factors as federal income tax?

3.) Just to get an idea. Let's say you gross $1000 on a paycheck, about how much will you take home (federal + state income tax considered)

Thanks

[saturnfan]

Tax Rate Schedule

[Sameian]

Just to verify.....

say im married, filing jointly......

gross yearly income is 50k (standard deduction)
home taxable value is 150k
cars value is 20k


how much would i be paying out for NC taxes???

[MrsSteel]

Originally Posted by Sameian

Just to verify.....

say im married, filing jointly......

gross yearly income is 50k (standard deduction)
home taxable value is 150k
cars value is 20k


how much would i be paying out for NC taxes???

You'll have to go to a tax preparer to get a better idea than what any one of us could provide. The info on the websites give good approximations.


Income tax info according to the link provided by Saturnfan ( Tax Rate Schedule ) ...
Married filing jointly with an income between $21,250 & $100K:
$1,275 + 7% OF THE AMOUNT OVER $21,250
So if your income is $50K ...
$1,275 + .07(50,000 - 21,250) = $3287.50


Property taxes vary by county and city. Each county has one set tax rate and then the city adds additional taxes onto that. Some communities add on additional fees for recycling, fire department, etc.

Here are some websites that list property taxes in Wake County
WakeGOV.com - Tax Rates & Fees
http://www.wakegov.com/NR/rdonlyres/77502C15-C0FB-4BD8-85C8-8E2E252E67BD/0/TaxRates2007.pdf (broken link)

Rather than looking at the amounts you've provided, I'll paste the examples provided on WakeGov.com:

How to Calculate Taxes - Tax rates are calculated against each $100 in value.

Example 1: A single-family home with a value of $200,000. The property is located in the Town of Apex but not a Fire or Special District.
Wake County rate = .678 Town of Apex rate = .40 Combined Rate = 1.078 Recycling Fee = $20.00

Property value divided by 100: $200,000/100 = 2000
2000 x 1.078 = $2,156.00
Plus $20.00 Recycling fee = $2,176.00 estimated annual tax

Example 2: A licensed motor vehicle with a value of $8,500. The property is not located in a municipality but is in a Fire District.

Wake County rate = .678 Fire District rate = .10 Combined Rate = .778
(No vehicle fee is charged if the property is not in a municipality)
Property value divided by 100: $8,500/100 = $85
$85 x .778 = $66.13 estimated annual tax

[Sameian]

Thanks,
Thats exactly the rundown I was hoping to see.

[SunnyKayak]

information on state website for individual and buisness
N.C. Department of Revenue: Home

[MrsSteel]

Since the Triangle is made up of much more than Wake County, I thought I'd come back in here & post some links for surrounding counties as well.

Durham
Durham County Government : Frequently Asked Questions
Durham County Government : Tax Rates

Orange
Orange County NC Revenue Department
Orange County NC Revenue Department

Franklin
http://www.co.franklin.nc.us/Tax/Tax%20Rates%202007.pdf

Chatham
Chatham County Departments (broken link)
Chatham County Departments (broken link)

Johnston
Johnston County - Johnston County Tax Collectors Office