Local & State Taxes

Local Taxes

There is no local income tax.

Property Taxes
Residents and businesses in Wake Forest pay the combined town ($0.52) and county ($0.6145) rate of $1.13 per $100 of assessed value.

2015 County Municipal Tax Rates

Wake County

$0.6145

Wake Forest

$0.52

Apex

$0.39

Cary

$0.37

Clayton

$0.55

Fuquay Varina

$0.385

Garner

$0.5175

Holly Springs

$0.435

Knightdale

$0.43

Morrisville

$0.41

Raleigh

$0.421

Rolesville

$0.44

Angier

$0.53

Wendell

$0.49

Zebulon

$0.525

Taxes are calculated against each $100 in value.  If you live in a city or town, you will pay both County and Municipal property taxes, plus any additional special taxes that may apply.

For more information, or to determine if any special district taxes or fire district taxes apply to your specific location, please visit the Wake County Revenue Department

Source: Wake County Revenue Department

State Taxes

Personal Income
Personal income tax rates ranges from 6% to 7.75% based on taxable income and filing status. To learn more, visit the NC Department of Revenue’s Section for Individuals

Corporate Income
The corporate income tax rate is 6%

Franchise Tax
The Franchise tax is levied on NC corporations annually at a rate of $1.50 per $1000 of the largest of the following:

  • Capital stock, surplus and undivided profits apportionable to the state
  • 55% of appraised value of property subject to taxation
  • Book value of real property in NC less debt to acquire

To learn more, visit the NC Department of Revenue’s Section for Businesses

Sales and Use Tax: The retail sales tax rate in Raleigh is 6.75% (4.75% - State plus 2% - County)

Contact Us

Wake Forest Economic Development

301 S. Brooks Street

Wake Forest, NC 27587

919-435-9400

News & Blog Posts

Wake Forest among top 10 fastest growing cities in NC!

July 11, 2016

Wake Forest is one of the top 10 cities in NC with the largest population increases between 2010 and 2015.  The 10 cities with the largest population increases between 2010 and 2015 contain 25% of the state’s total population but make up half of the total population growth over the five-year period. 

Read Full Press Release