Quote:
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???
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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:
Quote:
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
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North carolina State tax
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