For fiscal year 2026–27, Wake County’s property-tax rate is 53.71 cents per $100 of assessed value. A Wake County property inside Cary adds Cary’s 36.75-cent municipal rate; a Wake County property inside Morrisville adds Morrisville’s 35-cent rate. The basic combined rates are therefore 90.46 cents in Wake County Cary and 88.71 cents in Wake County Morrisville, before any applicable special districts, fees or exemptions.
Cary adopted its FY2027 rate on June 25, 2026. Morrisville adopted its FY2027 budget on June 9 with the rate unchanged at 35 cents. Wake County adopted its FY2027 budget on June 1 after publishing a 53.71-cent rate. Town of Cary, FY2027 Budget · Town of Morrisville, FY2027 Budget · Wake County FY2027 Budget document
What are the current FY2027 property-tax rates?
| Jurisdiction | FY2027 rate per $100 assessed value | Basic tax on $500,000 assessed value |
|---|---|---|
| Wake County | $0.5371 | $2,685.50 |
| Cary municipality | $0.3675 | $1,837.50 |
| Morrisville municipality | $0.3500 | $1,750.00 |
For a Wake County parcel inside the municipality:
- Wake County + Cary = $0.9046 per $100, or 0.9046% of assessed value before other items.
- Wake County + Morrisville = $0.8871 per $100, or 0.8871% before other items.
These are arithmetic combinations of the published rates, not a quote for a specific parcel.
How do I calculate a Wake County property-tax estimate?
Use:
Assessed value ÷ 100 × applicable tax rate = estimated annual tax for that jurisdiction.
For a $650,000 assessed home in Wake County Cary:
- Wake County: $650,000 ÷ 100 × 0.5371 = $3,491.15
- Cary: $650,000 ÷ 100 × 0.3675 = $2,388.75
- basic combined illustration = $5,879.90 per year
For the same assessed value inside Morrisville:
- Wake County: $3,491.15
- Morrisville: $650,000 ÷ 100 × 0.35 = $2,275.00
- basic combined illustration = $5,766.15 per year
Difference: $113.75 per year in this example.
Is purchase price the same as assessed value?
No. A property-tax estimate should use the county’s assessed value and applicable tax jurisdictions, not simply assume the contract price automatically becomes the tax value.
Property assessments can change through county revaluation, improvements, appeals, corrections and other assessment events. Rate changes and value changes are separate variables.
A buyer should therefore obtain the current parcel record and current tax bill, then understand that future bills may change.
Does every Cary home use the Wake County rate?
No. Cary’s town limits span Wake, Chatham and Durham counties. The Town says each county handles assessment, valuation, billing and collection for the Cary property located within it. Town of Cary, Taxes and Assessments
This is why a “Cary tax rate” calculator that automatically adds Wake County can be wrong for an edge-area parcel.
For every Cary property:
- confirm county;
- confirm the property is inside Cary municipal limits;
- confirm assessed value;
- check any special district;
- apply the current county and municipal rates.
What about a Morrisville mailing address outside town limits?
A mailing address is not the same thing as municipal jurisdiction. Some nearby properties can carry a Morrisville mailing designation while being outside the Town’s corporate limits.
If the parcel is not actually inside Morrisville, the Morrisville municipal rate should not simply be added because a listing says “Morrisville.” Verify the parcel/jurisdiction first.
Why can my tax bill change even when the tax rate goes down?
Because:
Tax bill = assessed value × tax rate (plus applicable districts/fees).
A lower rate can still produce a higher bill if assessed value rises enough. A higher rate can still have a smaller dollar impact on a lower assessed value.
Wake County also conducts periodic revaluations, so buyers should distinguish three dates:
- the assessment/revaluation date;
- the fiscal year for the tax rate;
- the date of the current tax bill.
Using a stale rate with a new assessed value—or a new rate with an old assessment assumption—produces a bad estimate.
How much difference is there between Cary and Morrisville right now?
For Wake County parcels, the FY2027 municipal-rate difference is 1.75 cents per $100 assessed value.
That equals:
| Assessed value | Cary municipal tax | Morrisville municipal tax | Difference |
|---|---|---|---|
| $400,000 | $1,470 | $1,400 | $70 |
| $500,000 | $1,837.50 | $1,750 | $87.50 |
| $750,000 | $2,756.25 | $2,625 | $131.25 |
| $1,000,000 | $3,675 | $3,500 | $175 |
This table isolates the municipal portion so buyers can see the actual magnitude. It does not say Morrisville is always cheaper overall; purchase price, HOA, insurance, utilities, commute and county/special-district differences can overwhelm the municipal tax spread.
Do property taxes get prorated when I buy a North Carolina home?
North Carolina law provides for calendar-year real property taxes to be prorated between transferor and transferee on the closing date unless the contract provides otherwise. N.C.G.S. §39-60
The closing statement should show how the transaction handles that proration. This is separate from your future ongoing annual tax obligation.
What should a buyer verify before trusting a tax number on a listing?
Use this checklist:
- exact parcel ID/address;
- county;
- municipality/town limits;
- current assessed value;
- current county tax rate;
- current municipal tax rate;
- special district or fire-district rate if any;
- exemption or deferment affecting the seller’s bill;
- whether the displayed bill is for the current tax year;
- whether escrow estimates use the current rate and current assessment.
A seller’s current bill is evidence, not a guarantee of your future bill.
The key takeaway
For a Wake County property in FY2027, start with 53.71 cents per $100 for the county, then add the municipality if the parcel is inside town limits: 36.75 cents for Cary or 35 cents for Morrisville. On a $500,000 assessed value, the basic county-plus-town illustrations are $4,523 in Cary and $4,435.50 in Morrisville.
But do not stop at the town name. Cary spans multiple counties, mailing addresses can cross municipal boundaries, and assessment changes can matter as much as the tax rate. Verify the parcel before you budget.
About the author
Cameron Smith writes Move Up NC’s real estate guidance for Cary, Morrisville and the North Carolina Triangle.
Editorial note: Tax examples are arithmetic planning illustrations, not tax advice or tax-bill guarantees.