Property taxes have been used for years to fund public resources and institutions such as schools, parks, fire and police departments and more to improve the community.
If you own a home, land, or business, you may be familiar with the forms needed to document your property tax information. However, knowing about exemptions and what exactly is being calculated can give you a better understanding of this tax information.
Local governments request tax forms containing information on the property you own, the land the property is on, equipments and information about any income being generated by the property if applicable and other movable structures under your name.
Depending on your state, individuals meeting certain requirements may receive a partial tax exemption.
This includes but isn’t limited to individuals with physical and mental disabilities. Individuals making under a certain amount of income yearly can also receive partial tax exemption from the state. The income amount is based off the previous year's tax information prior to turning in an application for exemption.
In addition to your home, the state also includes other items belonging to you under personal property. These items include:
Property taxes can be confusing and difficult, so if you need assistance filling out your property tax form, consider speaking with your local property tax office.
As a military spouse for over 17 years, I understand the challenges of moving and relocating. I have lived in Eastern North Carolina for over three years and am familiar with the area. As a homeowner and business owner, I understand the importance of making one of the largest asset investments you will make. My goal is to build a long-lasting relationship with you throughout the home buying or selling process and I am 100% committed to providing you with the highest level of personal service. Whether you are buying, selling, investing, or just curious about the local market, I would love to offer my support and services.
