The new tax rates have been set for Guilford County. You can see them here (PDF).
To figure what your tax bill is going to be when it is mailed out later this month, find your municipality – for example, Greensboro – and multiply that total rate (1.3699) by the tax value of your property, in hundreds. That is, a tax value of $100,000 would mean you multiply the tax rate by 1000. (If you don’t know the tax value of your property, go to the Guilford County Tax website and pull up your address)
This rate is slightly lower than the 2009 rate of 1.3274
The upshot is, if your house has a property tax value of $100,000, your tax bill this years will be $1,369.90. Last year it was $1,327.40.
It’s rare but not unheard of that property tax rates decline one year to the next. In Guilford County, tax movement in the rate is usually fairly small, whatever direction it goes.
It’s when property values are reassessed that things get really exciting. That is done only once every eight years in Guilford County, so there is the chance for wide differences from one valuation to the next. The next revaluation will occur in 2012.
Hmmm. The same year the Mayan calendar says it’s all going to end.
We should be so lucky, right?
[UPDATE: My friend, the very smart Realtor Candice Joyce, commented on this post with the following:
That’s the rate per $100 of assessed tax value so don’t forget to place a decimal point before last two digits…..or divide value by 100 then multiply by tax rate=same result.
Thanks, Candice. (Math. Ick.)
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