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10 results for Property taxes
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Record #:
20570
Author(s):
Abstract:
A number of North Carolina cities and towns are seeking to attract new business by offering incentive grants linked to property taxes. This means that a business that invests money in a new plant and equipment would receive property tax relief for a specified number of years. In essence the local government is refunding part of the taxes paid on property and creating a partial exception of the property from taxation. This bulletin examines whether such action is legal under the NC Constitution.
Source:
Local Government Law Bulletin (NoCar KFN 7830 A15 L6), Vol. Issue 84, June 1998, p1-4, f
Record #:
30171
Author(s):
Abstract:
North Carolina collected more money from intangible property taxes than ever previously collected. For money related to stocks, foreign trusts, bonds, and insurance, collections were over $478,000,000 and the states retained 20% to cover the costs of collection and administration of this type of tax.
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Record #:
30221
Author(s):
Abstract:
In 1920, with the removal of property taxes in North Carolina, the real and personal property values multiplied nearly three times, reaching over three billion dollars. Despite industrial development, gain in personal property and increase in the value of farm property, the per capita property tax valuation in 1951 is still not up to the 1920 level.
Subject(s):
Record #:
30260
Author(s):
Abstract:
North Carolina's local government officials have held down tax rates on tangible property for the past twenty years. Real estate, inventories, and personal property valuations have increased to $5.2 billion in 1952. Additionally, property tax rates have been kept lower in North Carolina because the state assumed financial obligation for two of the most costly public services: public schools and roads.
Subject(s):
Record #:
30511
Author(s):
Abstract:
Tax assessment for 1954 valued real and personal property at nearly six billion dollars, representing an increase of over $222,000,000. Although not the increase seen in property valuation two years ago, counties like Burke, Davidson, Hyde, and Orange saw substantial gains. Additionally, most counties decreased the tax rate on property for the year.
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Subject(s):
Record #:
30633
Author(s):
Abstract:
There was a $214 million increase in assessed valuation of real and personal property in 1955, pushing the total valuation of property to above six billion dollars. The record breaking assessment represents a trend of increases over the past five years, and in several counties in North Carolina experienced a gain of over 10 percent.
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Subject(s):
Record #:
30846
Author(s):
Abstract:
The Public School Finance Study Commission made recommendations via a $10 million Incentive Plan. This would require counties to levy extra property taxes needed to participate fully. Property taxes based on this levy would be increased an average of 9.2 cents on the dollar, or 7.5%.
Record #:
31035
Author(s):
Abstract:
Total valuation for real, personal, and excess property amounted to over $8 billion in North Carolina for 1960. This is more than a half-billion dollars above 1959. The combination of increased value and higher tax rates accounted for the additional millions.
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Subject(s):
Record #:
31370
Author(s):
Abstract:
There was an increase of $1.1 billion or 11.4% of total property valuations for North Carolina's 100 counties from 1962 to 1963. Additionally, the average county tax rate in 1963 of $1.268 was down from the high of $1.345 for 1962.
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Subject(s):
Record #:
31401
Author(s):
Abstract:
There has been much controversy over North Carolina's levying of the intangible personal property tax. Collected at the state level, proceeds from the tangible tax is spent by local governments given a distribution formula. Unfortunately, many do not know what the intangible tax is and if they should be paying this tax.
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