27516 Property Tax Rate

Property owners in ZIP code 27516 (Chapel Hill, North Carolina) pay a median of $4,633/year in property taxes on homes valued at $508,400. This translates to an effective tax rate of 0.91%, which is 28% above the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 27516 is approximately $386, which factors into escrow payments on mortgages. This ZIP code is located within Orange County. This is $3,042 more than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 27516 has lower property taxes. ZIP codes with similar effective rates include 27106 (0.91%) and 27705 (0.91%).

In Chapel Hill, property taxes represent approximately 4.6% of the median household income of $100,788, providing context for the relative tax burden on homeowners in this area.

North Carolina reassesses all properties countywide every four years at fair market value; your purchase price does not immediately change your tax assessment, but will be reflected in the next scheduled revaluation (2025 for Orange County). Orange County provides a $25,000 Homestead Property Tax Exclusion for primary residences — apply with the Orange County Tax Assessor after closing to reduce your taxable value. File your homestead exemption immediately with the Orange County Tax Assessor and request a confirmation letter stating the exclusion amount for your records.