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Taxes & Incentives
Fuquay-Varina
Fuquay-Varina Local Property Tax Rate: $0.425 (2022)
Wake County
Wake County Property Tax Rate: $0.62 (2022)
Wake County Property Tax Rate: $0.60 (2021)
*Local property tax rates are calculated against each $100 in value. If you live in a municipality, you will pay both county and municipal property taxes, plus any additional special taxes that apply.
North Carolina
The corporate income tax rate for North Carolina is 2.5%. There is no local corporate income tax.
Town of Fuquay-Varina Incentives
The Town of Fuquay-Varina has the capacity to provide economic development incentive assistance for companies seeking to relocate and expand business within the Town’s Corporate Limits. This incentive policy provides consolidated information and guidance with respect to the application for Town incentive assistance.
The Town's Incentive Policy Guidelines & Application has been created to encourage the following types of development within Fuquay-Varina:
Project Type | Eligible Applicants | Eligible Projects | Minimum Capital Investment | Town Participation | Use of Funds |
| Suppliers of BIG4, Advanced Manufacturing, R/D, Warehouse/Distribution, Defense Manufactures |
|
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| Construction; on/off site infrastructure improvements |
| Expansion and rehabilitation of existing Fuquay-Varina manufacturing facilities |
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| Construction; utility; infrastructure; acquisition of machinery & equipment |
| High-end commercial and retail development with significant capital investment and tax base impact |
|
$50 million
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| Utilities; road improvements; easements; ROW’s |
| New building construction located in DC-1/DC-2 that results in a minimum 50% increase in tax assessment |
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| *Grant up to 100% equal to assessed property tax over 5 - 10 year period | Construction; utility; road improvements |
| Rehabilitation of an existing building/site located in DC-1 & DC-2 that results in a minimum 50% increase in tax assessment |
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| *Grant up to 100% equal to assessed property tax over 5 – 10 period | Demolition; construction; utility; road improvements |
* Via statutory development agreements
The consideration and size of any Town grant assistance will be based on a number of factors including the location and size of the site, the amount of capital investment in the project, and the number of new jobs created.
Other local incentives include:
- Downtown Development Incentives Opportunities
- Fuquay-Varina Economic Development Commission Revolving Loan Fund
For county and state incentives please follow the links below:
If you would like additional information on the Town's Economic Development Incentive Policy and other available resources, please contact Tiffany McNeill at 919-753-1031.