LOWER YOUR PROPERTY TAXES IN NORTH CAROLINA

Are your interested in lowering your property taxes in North Carolina?

If you are a landowner in North Carolina we recommend learning how to lower your property taxes in North Carolina.

This article will deal with one of the ways to lower your property taxes in North Carolina, the Present Use Value program.

In North Carolina there is a law ( NC DEPT OF REVENUE) that basically allows you to apply for a property tax deferral with the county if you meet the following criteria:

You own at least 20 acres of timberland or
You own at least 10 acres of producing agriculture land.
You have owned the property at least four years OR you already have other land in the county enrolled in the program.
You are buying a tract that is already enrolled and you are going to continue in the program.

This law pertains to every county in the state. Here are a few more requirements and particulars:

If you are applying for the agriculture land exemption, you must have $1000 in gross annual agriculture sales for the previous three years. This can include crops or livestock/livestock products.
If your farm contains both timberland and agriculture land, you can apply for both based on the relative acreage in each.
For the timberland portion, there is no income requirement but a Forestry Management Plan is required to be filed and maintained with the application.
If you ever decide to cancel your enrollment or the use changes, or you sell the land and the new owners do not want to continue, three years of deferred taxes will be due and payable to the county.

This program is extremely popular in North Carolina, particularly in counties that have higher property values. This program can save you anywhere from 30-70% on your annual property tax bill. There are no real negatives to this program but as always, get legal/CPA advise prior to enrolling, which by the way, can only be done during the month of January each year unless you are buying a tract that is already enrolled).

As always,

If you are interested in selling your North Carolina land, please contact us for a fast, no obligation, no risk cash offer.

NCLANDBUYERS greatly appreciates the opportunity to discuss your land with you. If you are interested in selling your land and would like a serious, fast offer, please fill out the form below. If you have any other land needs we are more than happy to help. Even if we do not buy your land, we are always happy to help in any way we can. Just reach out to let us know how we can help or if you just want to chat about North Carolina land!