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Old 05-20-2008, 08:11 PM
 
Location: Cary, NC
12 posts, read 60,166 times
Reputation: 15

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As a real estate agent, it is my job to keep up with the tax rates. Wake County is lowering its rate from .67 to .50, although there is still some debate as to whether or not to at .025 to that for the schools who claim that they are underfunded (I think they are). Cary is lowering its rates from .42 to .32 ot .33 and other towns in the area will do the same. The rates for most towns will be in the mid to low .80's when combined with the Wake county tax rate.

For example,
A home at 1% valued at 400 000 would be taxed at 4000
That same house after revaluation might be valued at 530 000, but taxed at .83 would pay 4399, which is a significant tax increase over a one year period, but tolerable in my opinion.

Quote:
Originally Posted by Funky Chicken View Post
You should also be aware that Holly Springs has the highest town tax rate in Wake County.
Your taxes are made up of two components-the county rate and the local (or town) rate. The two rates are added together and then multiplied by your home's assessed "value" to come up with your tax bill.
The current Wake County tax rate is .678 (67.8 cents per $100 valuation).
Local tax rates as follows-
Holly Springs .53
Cary .42
Apex .40

On a house with an appraised value of $350K,
Holly Springs taxes would be $4228
Cary taxes would be $3843
Apex taxes would be $3773

Not a huge difference, but a difference.

Also know that these rates WILL change for the next tax year. Wake county has just revalued all real property in the county, and as a result will be lowering the rates in an effort to create what they call a "revenue-neutral" rate. The towns will have the option of lowering rates as well-that decision will depend on each town's budget needs.
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Old 05-20-2008, 10:55 PM
 
32 posts, read 92,344 times
Reputation: 23
Forget Holly Springs, it tends to be a bit more blue collar. Apex/Cary is fine, as is North and West Raleigh.
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Old 05-21-2008, 12:51 AM
 
Location: Maryland
1 posts, read 1,969 times
Reputation: 10
Question Relocating need some opinions PLEASE

Hi all. We are a family of three small children , a rottweiler, and a cat. We are relocating from Maryland as soon as June 1, 2008. I am having problems for one about my so called viscious dog( NOT). anyway and another I am very concerned about my childrens safety both in school and out. As I am sure all of you that have children are. Could anyone suggest any good neighborhoods and schools , We will need to rent for the first year. Thanx in advance for your time.
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Old 05-21-2008, 07:37 AM
 
Location: Raleigh, NC
178 posts, read 1,227,503 times
Reputation: 130
Quote:
Originally Posted by RaleighRocks View Post
Forget Holly Springs, it tends to be a bit more blue collar. Apex/Cary is fine, as is North and West Raleigh.
I disagree....according to data recently quoted by town leadership, the average household income here is appx $92,000. Most of the people I know - and I've lived in HS for the past nine years - are small business owners or professionals in law, medicine, etc.
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Old 05-21-2008, 07:45 AM
 
1,886 posts, read 4,815,466 times
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Quote:
Originally Posted by RaleighRocks View Post
Forget Holly Springs, it tends to be a bit more blue collar. Apex/Cary is fine, as is North and West Raleigh.
Hmmm-
The average home in Sunset Ridge that sold in the last 12 months sold for
$374,864

The average home in Sunset Oaks that sold in the last 12 months sold for$375,589

The average home in Wescott that sold in the last 12 months sold for$456,038

Maybe you should take a look at the facts before throwing a term like "Blue Collar" around. You may not LIKE Holly Springs, but describing it as a "Blue Collar" town is woefully inaccurate.
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Old 05-21-2008, 07:55 AM
 
Location: Raleigh, NC
178 posts, read 1,227,503 times
Reputation: 130
[quote=jjensen;3183195]My wife, 2 boys (9 and 6) and I are thinking of moving to RTP area for 2009 school year.

Question.........
5. Can someone suggest the best family town?

As was earlier noted, doing so depends upon the definition of "best family town". In my opinion, Holly Springs fits the bill perfectly.

When a town of appx 20,000 people raises over $30,000 in an afternoon for the parents of a 3-year boy who is terminally-ill, it seems like we're all one big extended family.
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Old 05-21-2008, 09:23 AM
 
1,886 posts, read 4,815,466 times
Reputation: 2904
Quote:
Originally Posted by jsonadam View Post
For example,
A home at 1% valued at 400 000 would be taxed at 4000
That same house after revaluation might be valued at 530 000, but taxed at .83 would pay 4399, which is a significant tax increase over a one year period, but tolerable in my opinion.
While I agree that a 10% increase in property taxes is "significant" and impacts the pocketbook, I tend to look at things a little differently.

Using your example of a house valued at $400,000 before revaluation and $530,000 after, assuming the home was new in 2000 (8 years ago, which is the last time an existing home was revalued) and also assuming that the two values represent a very close approximation of what that house would sell for (which is the goal the county has in mind when setting the tax value)-

I have an asset that gained $130,000 in value over 8 years, and now my tax burden, while 10% higher than it was last year, is a smaller percentage of the value of my asset. My tax dollar is actually going further than it used to because my house is worth more.
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Old 05-21-2008, 07:44 PM
 
Location: Cary, NC
2,932 posts, read 7,824,312 times
Reputation: 1419
Anyone think $92,000 isn't blue collar?
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Old 05-21-2008, 09:18 PM
 
3,395 posts, read 7,771,836 times
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When I think Blue Collar, I think more profession that income. Many guys in a traditional blue collar sort of job may end up making good salary, especially if older somewhere that pays according to seniority (my Dad was in this boat).
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Old 05-22-2008, 06:31 AM
 
4,265 posts, read 11,423,346 times
Reputation: 5822
Quote:
Originally Posted by RaleighRocks View Post
Forget Holly Springs, it tends to be a bit more blue collar. Apex/Cary is fine, as is North and West Raleigh.

It seems to me that you feel the "Blue Collar" moniker is somehow inferior as you advise posters to avoid areas that you feel have a higher concentration of these professions. IMHO, there are many professions that are considered "blue collar" (such as electricians, plumbers, building contractors etc) and these individuals may earn significantly more that many typical "white collar" professions. I have a friend who is a plumber and has an annual salary well in excess on 120K, has a gorgeous well tended home and is a dedicated family man. How does this make him a less desirable neighbor? I'd certainly prefer HIM as a neighbor as opposed to one that does not want to live/socialize with anyone who feels others are somehow less worthy.
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