Articles in regional publications that pertain to a wide range of North Carolina-related topics.
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Record #:
18243
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According to North Carolina law, tax assessors must try to appraise each property according to its \"true value in money\"--that is, the price at which the property would sell on the real market. Each property must be assess at this market value, which means property tax rates must fall on the full appraised market value. Before January 1, 1974, property was assessed at a percentage of appraised market value, according to the officially adopted assessment ration of the county in which the property was located.
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Record #:
25653
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THE INDEPENDENT’s three-month investigation in Durham County found evidence of a widespread pattern of residential property tax breaks that benefit thousands of affluent homeowners at the expense of other taxpayers. Until now, tax inequities created during Durham’s 1985 revaluation of county properties remained undiscovered. There is no evidence that the tax breaks were the result of favoritism.
Source:
Independent Weekly
(NoCar Oversize AP 2 .I57 [volumes 13 - 23 on microfilm]), Vol. 4 Issue 21, November 7-20 1986,
p1, 10-19, il, por
Periodical Website
Subject(s):
Record #:
30969
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Abstract:
A recent study by the department of Tax Research examines taxes levied on real and personal property on fifty-five large cities in North Carolina. The study reveals that the highest property tax rates levied are very conservative when measured against the much lower rate that would be needed if all property were on the books at or near market value.
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Record #:
27208
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Raleigh has proposed the Penny for Housing tax, a progressive tax that helps people in low-income communities to access affordable housing that they're being priced out of. The city's goal is to prevent further concentrations of minority and low-income people and subsidized housing by collecting additional property taxes.
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Record #:
18331
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A property tax circuit breaker prevents the local property tax from overloading a family's income, in that if a low-income family's property tax exceeds a specified percentage of its income, the state reimburses the family for taxes paid above this percentage. Linder discusses changes that would be made if this system would take hold in North Carolina.
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Record #:
30153
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Total values for property taxation for North Carolina gained $149,116,245 from 1949 to 1950. Despite this increase, it was considerably less than the change from 1948 to 1949, and several counties experienced decreases in property values.
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Record #:
30820
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In 1957, North Carolina real and personal property assessments were valued at over $6.9 billion. Just five counties within the state--Guilford, Mecklenburg, Forsyth, Durham, and Wake--made up over 35% of this total. There has also been a general trend to lift assessed values to near actual values based on county and city needs.
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Record #:
30489
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Current interest rates are at their lowest level in five years, and with the anticipation of further reductions, North Carolina homeowners are exchanging their high rate mortgage for a new lower rate. The payback method and the net present value method are two approaches used to determine if refinancing is feasible.
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Record #:
22033
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This bulletin gives an overview of the revenue-neutral rate calculation and provides answers to ten frequently asked questions from local officials. The 2003 NC General Assembly added a subsection known as G.S. 159-11 \"which requires each taxing unit to publish a revenue-neutral property tax rate as part of its budget for the year following the reevaluation of its real property.\" While the mandate is clear, there are few details given on how to accomplish it.
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Record #:
18180
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Any consideration of the local tax structure in North Carolina must deal in large measure with the ad valorem property tax. The property tax is the mainstay of local government finance, providing over 90 percent of the revenues that find their way to city and county treasuries.
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