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Property Tax Exemptions and Economic Development

November 12, 2014

North Carolina property tax law, nicknamed the Machinery Act, contains over 60 full or partial exemptions for property as diverse as free drug samples, uranium 233, and Loyal Order of the Moose clubhouses. A number of these exemptions are aimed … Continued

Grading North Carolina’s Property Tax System

October 30, 2014

Grade inflation may be rampant in higher education (everybody gets an A at Harvard?) but not at the Council on State Taxation.  Known as “COST,” this trade organization/lobbying group represents businesses concerned about state tax issues.  It recently issued a … Continued

Property Taxes and Non-Profits

September 19, 2014

The tax status of real and personal property owned or used by charitable non-profit organizations can get complicated when there are multiple private and public entities involved with the property.  Is property exempt if it is owned by a non-profit organization … Continued

New Property Tax Deferral Aimed at Economic Development Properties

May 13, 2014

[UPDATE:  S.L. 2014-39 amended the site infrastructure deferral by eliminating the requriement that the property have previously been participating in the present use value deferral program for farmland and by changing the deferral calculation.  The updated post below reflects these changes.] This … Continued

Budgeting Under “Tag & Tax Together”

February 27, 2014

It’s almost budget time again for local governments across North Carolina, and tax collectors need to be involved.  Collectors have the responsibility of estimating the property tax collection rate for the current fiscal year (2013-2014), which is the maximum collection rate … Continued

Tax Foreclosure and Redevelopment

October 18, 2013

Carolina County has been working with its largest municipality, Tar Heel Town, to  redevelop one of Tar Heel Town’s more dilapidated neighborhoods.  Many of the properties in this neighborhood are owned by absentee landlords who fail to maintain them properly.  … Continued

Assessors’ Right of Entry on Private Property

September 19, 2013

Do county property tax officials have the right to enter private property for appraisal purposes? This question keeps popping up in my in-box and on the Ptax listserv.  With good reason, too, because state law doesn’t offer a quick answer.  … Continued