If you live in Wake County, it’s likely your mortgage payment was more in July. Property bills are going up around the Triangle, and in Wake County some property owners are seeing increases of hundreds or thousands of dollars.

Fiscal year 2025 (July 1, 2024 – June 30, 2025) is underway, which means people will begin seeing the increases in their payments that result from higher home values.

Many Wake County residents are having to make some tough decisions about how to change their budget or if they should seriously consider moving.

For example, Julia Anderson and her family moved in 2016 from New Jersey to Apex. Anderson said she was paying about $1,300 per year in property taxes in New Jersey.

“That pretty much ran us up out of New Jersey,” she said.

The Anderson family initially rented a place in Apex before buying a Fuquay-Varina property in 2022. She’s due to pay $4,331.18 in property taxes where she lives now. It’s an increase compared to the $3,535.45 she used to pay when she first moved to Fuquay-Varina.

“I just feel like the same thing is starting to happen here,” Anderson said of her experience in Fuquay-Varina compared to New Jersey.

Anderson’s home saw a 46.97% increase.

“Now, it’s kind of like a double sticker shock,” said residential real estate market analyst Stacey Anfindsen. “We call it the price of growth.”

Growth is a good sign long term, Anfindsen said.

While this tax bill may be hard, Anfindsen says current property taxes are still low here compared to areas in the Northeast and Midwest, where they are often twice as high. Anfindsen said the Triangle is the place to be.

“It’s part of the reason why people move here,” Anfindsen said. “It’s not the only reason.”

It might also be the reason Anderson leaves.

“Next year, if it goes up by close to $200 or over $200, I’m going to sell,” Anderson said.

North Carolina law offers property tax relief for low-income seniors and disabled homeowners, disabled veterans or their unmarried surviving spouse.

There are three programs authorized by the General Assembly, with requirements that Wake County residents must follow. These programs can significantly reduce property tax bills for qualifying owners.