Wake County, NC — Property Tax Underwriting Guide
North Carolina · Cyclical hold until revaluation
What this means for multifamily underwriting
Wake County (Raleigh, Cary) is one of the fastest-growing counties in the US with strong multifamily absorption. Taxes are stable between revaluations.
Transaction type breakdown
Wake County values are set at the last countywide revaluation and held until the next one. A sale does not trigger an interim reassessment.
Refinance has no effect on assessed value.
Ownership change does not trigger interim reassessment.
Tax appeal information
9.0 mill (0.9% effective) is a mid-county estimate.
Guide review
County guidance last reviewed: June 15, 2026
Tax-rate scope: Tax-rate scope is not established as parcel-specific; confirm the parcel's taxing-authority stack.
Official sources: Wake County Assessment
Cyclical-hold model is well established for Wake County.
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Wake County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Wake County deal.