North Carolina Property Tax

Whether you own real estate in North Carolina or are thinking of investing, it is essential to understand property tax. Property taxes are a primary source of revenue for local governments and help pay for schools, roads, and other public infrastructure. They are based on the assessed value of the property and are typically paid in annual installments or through an escrow account.

To calculate your property tax, you need to know two things: the taxable value of your home and the county’s tax rate. The county’s assessor determines the taxable value using mass appraisal methods and statutory requirements. The tax rate is set by the county and may change annually.

You can apply for a homestead exemption or take advantage of other tax relief programs to lower your property tax bill. To learn more about the available options, contact a qualified tax professional.

How to Pay North Carolina Property Tax?

There are several ways to pay your North Carolina property tax:

Online:

• Many counties in North Carolina offer online payment options through their county government website. This is often the most convenient method. Look for a section on property taxes and locate the online payment portal. Here are a few examples:
  • Wake County: https://www.wake.gov/departments-government/tax-administration/payment-information (This website allows payments via credit/debit card, bank draft, or ACH transfer)
• Alternatively, the North Carolina Department of Revenue doesn’t directly handle property tax payments, but they partner with a third-party vendor, ACI Payments, Inc., for online property tax payments. You can access this option here: https://www.officialpayments.com/ (This website allows payments via credit/debit card)

By Mail:

• You can mail your payment along with the remittance stub from your tax bill to the address provided by your county tax office. Ensure you include your property tax account number on the check or money order.

In Person:

• Most counties allow you to pay your property tax in person at their tax collector’s office. They will typically accept cash, check, or money order.

North Carolina Property Taxes Due Dates

The deadline to pay property taxes in North Carolina is January 5. After that, interest will be charged at a rate of 2% for the first month, then at a rate of 3/4% every month until the bill is paid. If you are unable to pay your property taxes, you may be able to apply for a tax relief program.

All property owners must annually list personal property that is subject to taxation. This includes furniture, fixtures, leasehold improvements, airplanes, business machinery, and farm equipment. The listing period is from January 1 through January 31. A late listing penalty of 10% is imposed if a listing form is not filed on time.

All business personal property must be listed annually and is valued based on trends in cost new and depreciation schedules provided by the North Carolina Department of Revenue. All businesses must submit a Business Personal Property Listing Form by January 31, or request an extension before the end of the listing period.

It is the legal obligation of an owner to pay property taxes. North Carolina General Statutes stipulate that unpaid real estate taxes are advertised in local newspapers until they are paid. Past due property taxes can be garnished from wages or bank accounts, levied against real estate and withheld from state income tax refunds.