Do property taxes in Kannapolis feel confusing? You are not alone. Whether you are buying, selling, or planning your budget, understanding how Cabarrus County calculates and collects property taxes can save you money and stress. In this guide, you will learn how assessments and rates work, what revaluations and appeals mean, how escrow affects your mortgage payment, and how to estimate taxes and closing prorations with confidence. Let’s dive in.
Cabarrus County property tax basics
Property taxes in Cabarrus County support local services and are typically made up of several parts. Most homeowners pay a county levy, a city levy if the home is inside municipal limits such as the City of Kannapolis, and sometimes a special district levy. The final bill reflects the combined rate that funds services across these jurisdictions.
Local governments adopt tax rates each year. Your bill can change even if your home’s assessed value stays the same, because rates can move up or down with local budgets. You can review assessments, bills, payments, and revaluation updates on the Cabarrus County Tax Administration site.
Assessed value vs. market value
Cabarrus County determines an assessed value for taxation through appraisal during the county’s revaluation cycle. In North Carolina, the assessed value is intended to reflect market value as of the revaluation date used for that cycle. The assessed value on the county record is the number used to calculate your property tax.
If you want more background on how property taxes work statewide, the North Carolina Department of Revenue’s property tax guidance offers helpful context on assessments and administration.
How to calculate your tax
In North Carolina, tax rates are often shown as dollars per $100 of assessed value. Your annual property tax uses a simple formula that combines county, city, and any special district rates.
- Basic formula: Annual property tax = (Assessed value / 100) × Combined tax rate (dollars per $100)
- The combined rate is the sum of Cabarrus County, City of Kannapolis if applicable, and any special districts.
- Your tax bill will show how these components add up to the total due.
Confirm the current rates directly with the county and city. For municipal details, check the City of Kannapolis website.
Example calculation (hypothetical)
- Assessed value: $300,000 (example only)
- Combined tax rate: $1.05 per $100 (example only)
- Annual tax = ($300,000 / 100) × $1.05 = $3,150
This is only an illustration. Always use your actual assessed value and the adopted rates for the current tax year.
When rates or values change
Your tax can change for two main reasons. First, tax rates can be adjusted annually by local governments based on budgets. Second, countywide revaluations update assessed values to reflect market conditions as of a set valuation date. Even when local leaders lower rates after a revaluation, the total tax dollars you pay can still change depending on your new assessed value and the adopted budget.
To see when Cabarrus County’s next revaluation takes effect and how it works, refer to the county’s updates on the Tax Administration page.
Revaluations, notices, and appeals
After a revaluation, the county mails a Notice of Value to property owners. That notice includes your new assessed value and the steps to request an informal review or file a formal appeal. Appeals follow a sequence set by North Carolina law.
- Step 1: Start with an informal review with Cabarrus County Tax Administration, sharing recent comparable sales, an appraisal, or evidence of an error.
- Step 2: If needed, submit a formal appeal to the local Board of Equalization and Review within the listed deadline.
- Step 3: If you still disagree, you may appeal to the North Carolina Property Tax Commission and beyond, as allowed by statute.
Deadlines are strict. For procedures and statutory references, see North Carolina General Statutes Chapter 105 and the county’s instructions on the Tax Administration site.
Taxes and your mortgage escrow
If your loan has an escrow account, your lender collects a portion of your estimated annual property taxes and homeowners insurance each month as part of your mortgage payment. The lender holds these funds and pays the tax bill when due.
Federal rules require an annual escrow analysis. If taxes rise due to a rate change or revaluation, the analysis may show a shortage. Your servicer can ask you to pay the shortage in a lump sum or spread it over the next 12 months by increasing your monthly escrow payment. If there is an overage above allowed limits, the servicer must issue a refund or credit. For consumer guidance, review the CFPB’s overview of escrow accounts.
Tip for buyers: ask your lender to estimate your monthly escrow using the current tax bill and to explain how they handle changes after revaluation. Tip for sellers: if you have an escrow account, ask your servicer how any remaining escrow balance is handled after your loan is paid off at closing.
Estimate your annual and monthly costs
Use these steps to build a reliable working estimate.
- Look up the assessed value for the property on the county record. You can access property search via the Cabarrus County Tax Administration site.
- Confirm the current combined tax rate for the property’s location, including county, City of Kannapolis if applicable, and any special district.
- Calculate annual property tax: (Assessed value / 100) × combined rate.
- Estimate monthly escrow: add annual property tax and your annual homeowners insurance premium, then divide by 12. Your lender may add a cushion as allowed by federal limits.
Example monthly escrow (hypothetical)
- Annual property tax: $3,150 (from example above)
- Annual homeowners insurance: $1,200 (example only)
- Total escrow items: $4,350 → monthly escrow estimate: $4,350 / 12 = $362.50
Your actual mortgage payment equals principal and interest plus the monthly escrow amount, and may also include mortgage insurance depending on your loan.
Closing day: how tax proration works
In North Carolina, property taxes are usually prorated at closing so each party pays taxes for the time they owned the home during the tax year. If the current year’s bill is not yet issued, the closing attorney or settlement agent typically uses the prior bill or the best available estimate.
If a revaluation notice arrives before closing, the proration should reflect that updated information. Always confirm the proration method and figures with your closing attorney or settlement agent.
Example proration (hypothetical)
- Annual tax estimate: $3,150
- Closing date: June 15 (166 days into the year)
- Seller’s share: $3,150 × 166/365 = $1,432.60 credited to the buyer at closing
Simple seller proceeds worksheet
Use this checklist to estimate your bottom line before you list or accept an offer. Replace placeholders with your actual numbers.
Inputs to gather:
- Sale price
- Outstanding mortgage payoff(s)
- Realtor commission (% or $)
- Estimated closing costs (attorney, title, recording)
- Prorated property taxes (seller’s share)
- Repairs or credits to buyer
- HOA transfer fees or unpaid dues
- Other liens or judgments
How to calculate:
- Gross proceeds = Sale price
- Subtract commission
- Subtract mortgage payoff(s)
- Subtract closing costs
- Subtract prorated taxes (seller portion)
- Subtract repairs/credits, HOA, and other liens
- Result = Estimated net proceeds to seller
For accurate prorations, use the most recent tax bill or a current-year estimate based on assessed value and the adopted combined rate.
What to check and where to confirm
- Verify your assessed value, revaluation status, tax bills, and payment options on the Cabarrus County Tax Administration site.
- If the home is in city limits, confirm the municipal tax details with the City of Kannapolis.
- Review statewide guidance on assessment and property tax rules at the North Carolina Department of Revenue.
- For appeals timelines and legal structure, consult North Carolina General Statutes Chapter 105 and follow the county’s notice instructions.
- Ask your lender how escrow is calculated and adjusted, and review the CFPB’s escrow overview for consumer protections.
Ready for local guidance?
If you are buying or selling in Kannapolis, a clear tax plan helps you set the right price, avoid surprises at closing, and budget with confidence. For a tailored estimate and transaction plan, connect with Kirk Hanson. You will get local insight, clear numbers, and a concierge approach from a team that knows Cabarrus County.
FAQs
How are property taxes calculated in Kannapolis, Cabarrus County?
- Your annual tax equals (assessed value / 100) × the combined rate for county, city, and any special districts, expressed in dollars per $100 of assessed value.
Where can I find my assessed value in Cabarrus County?
- Look up your property record via the county’s online tools on the Cabarrus County Tax Administration site.
Do I pay a separate school tax in Cabarrus County?
- No separate “school tax” line appears; schools are funded through the combined local levies included in your total tax rate.
What if my assessed value changes after a revaluation?
- You will receive a Notice of Value and can request an informal review or file a formal appeal within deadlines listed; see the county site and Chapter 105 for process details.
How does a tax increase affect my mortgage escrow?
- Your servicer’s annual escrow analysis will reflect the higher tax; you may pay a shortage in a lump sum or through higher monthly escrow over the next 12 months.
How are property taxes prorated at closing in North Carolina?
- Taxes are typically prorated based on the days each party owned the home during the tax year, using the latest bill or best available estimate when the current bill is not issued yet.
