A Guide to North Carolina Property Tax Exemptions

Reducing Property Taxes A Guide to North Carolina Property Tax Exemptions

Everything You Need To Know About North Carolina Property Tax Exemptions

Compared to other states, North Carolina has relatively low property taxes. With a tax rate of 0.77%, North Carolina is well below the national average of 1.07%.

Regardless of the below-average tax rate, many property owners are trying to lower their property taxes.

DoNotPay can show you how to reduce your taxes with North Carolina property tax exemptions!


What Is Property Tax, and How Does It Work?

Property tax refers to the properly calculated amount of money every property owner owes to the state. If you’re thinking about buying a property, you should keep in mind that you will have to pay an annual tax.

The local government is in charge of imposing the property tax and calculating the tax rate.

Whether your property tax bill is low or high depends on the property’s value, which is estimated during the property tax assessment.

How Does the Property Tax Assessment Work in NC?

North Carolina’s property tax is based on the value of the property, and the assessor is required to revalue the property at least once in eight years. The reappraisal should determine the property’s current market value.

Once the assessor determines your property’s value and tax bill, you will have to pay that amount for eight years before the next revaluation. Due to that fact, making sure the value is accurate is of utmost importance!

Who Benefits From the Property Tax Money?

Property taxes are the main source of revenue for local governments. North Carolina Department of Taxation collects the property tax money and uses it for local government departments and services. The taxpayers’ money usually ends up funding:

  • Schools
  • Libraries
  • Hospitals
  • Fire departments
  • Law enforcement
  • Road constructions

How To Reduce My Property Taxes in NC

To avoid paying the earth for the next eight years, you should look into possible methods for lowering your tax bills. You can find some useful tips in the following table:

Strategy Description

Avoid repairs and renovations before the assessment

Fixing damages and renovating can lead to increased property value and an increased tax bill, respectively. Any structural changes and additions—shed, gazebo, swimming pool—can increase the property’s value

Request the property tax card

Ask the assessor for your property tax card. Read it thoroughly to see if there are any mistakes and wrong information that can influence the assessment

Accompany the assessor during the assessment

Joining the assessor during the revaluation allows you to prevent unjust or inadequate assessment

Point out flaws and damages

Damages on the property decrease its value. By pointing them out, you are making sure the assessor makes a record of them

Check the North Carolina property tax exemptions

Depending on the exemption, you can avoid paying a part of or the whole tax bill. DoNotPay can help you check if you qualify for any NC property tax exemptions

File a property tax appeal

If you are not satisfied with the revaluation, you should file a property tax appeal with the local Board of Equalization

Property Tax Exemption in NC—A Complete Guide

North Carolina authorizes property tax relief for veterans, senior citizens, and disabled persons. There are three types of property tax exemptions, and you can check their descriptions in the table below:

Property Tax Exemption Eligibility Benefits

Homestead exemption for elderly and disabled

  • 65 years old or older/totally and permanently disabled
  • Annual income below $30,200
  • 50% or the first $25,000 of the appraised value exempt from taxation
Circuit breaker tax deferral for elderly or disabled
  • 65 years old or older/totally and permanently disabled
  • Annual income below $30,200
  • Taxes limited to 4% of income, or 5% if income is above the limit, but below 150% of income limit
Homestead exemption for disabled veterans
  • Total and permanent service-related disability
  • The first $45,000 of the appraised value exempt from taxation

Find Out if You Qualify for NC Property Tax Exemptions With DoNotPay

Finding help for paying property taxes is difficult enough. If you are tired of unreliable information and want someone to focus solely on your case, you came to the right place!

DoNotPay developed a service that can guide you through the whole tax reduction process while offering useful tips and necessary information.

Our short questionnaire determines your exemption eligibility based on the information you disclose.

Follow these steps to get our assistance:

  • Access our app from a preferred web browser
  • Locate the Reduce Property Tax feature
  • Answer several questions regarding you and your property

DoNotPay will create a guide specially for your case. The guide includes information on all required forms and steps to file your exemption request.

Appeal Your NC Property Tax Bill With DoNotPay’s Assistance

If none of the tips for lowering your property tax bill work, it may be time to file an appeal. There are a couple of strong reasons for filing property tax appeals. The most common ones are:

  1. The valuation includes properties you no longer own
  2. The assessor valued the same property twice
  3. The property details on your property record are incorrect
  4. The value of your property increased too much compared to the previous assessment

Whether some of these examples apply to your case or you have other reasons to file an appeal, you can rely on DoNotPay for the information and instruction. Our custom-crafted guide will be your closest ally in resolving this issue.

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