Example of Cleveland County Property Tax Calculation
Cleveland County calculates property tax based on the assessed value of a property. The assessed value is determined by the county appraiser and can be found on the property's tax statement.
To calculate the property tax, the assessed value is multiplied by the current mill levy rate, which is set by the county commission. For example, if the assessed value of a property is $100,000 and the mill levy rate is 50 mills, the property tax would be $5,000.
It's important to note that there may be additional fees and exemptions that could affect the final amount of property tax owed. Homeowners should check with their local county tax office for more information.
If you want appeal your property tax assessment - contact your local tax assessor.
Cleveland County Property Tax Rates
Here is a formatted table listing the Cleveland County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.655 |
| City of Norman | $0.531 |
| City of Moore | $0.430 |
| City of Noble | $0.660 |
| City of Lexington | $0.750 |
It is important to note that these rates may vary depending on the specific location and property type within Cleveland County. As a tax advisor, it is recommended to speak with the relevant county and city agencies to ensure accurate and up-to-date information.
Who sets property tax rates in Cleveland County ?
Property Tax Rates in Cleveland County
Property tax rates in Cleveland County, located in the state of North Carolina, are determined by two entities: the Cleveland County Board of Commissioners and the Cleveland County Board of Education.
Cleveland County Board of Commissioners
The Cleveland County Board of Commissioners establishes the property tax rate for the county. They hold public hearings to determine the needs of the county and set the tax rate accordingly. The tax rates are then published on the Cleveland County Government website.
Cleveland County Board of Education
The Cleveland County Board of Education establishes the property tax rate for the school district. The tax rate is determined based on the needs of the school district, including funding for educational programs, teacher salaries, and building maintenance. The tax rates are then published on the Cleveland County Schools website.
Property taxes are assessed annually and are due on September 1st of each year. The property owner is responsible for paying the tax bill, which is based on the assessed value of their property.
By understanding who and when sets property tax rates in Cleveland County, property owners can plan accordingly for these expenses and ensure they are paying their fair share towards the needs of the community.
Homestead exemptions in Cleveland County ?
Creating a table with columns for exemption, eligibility, amount, and notes is an easy way to organize and understand the various county-specific Homestead exemptions and deductions available in Cleveland County, North Carolina. Here are the details you need to know:
Homestead Exemptions and Deductions in Cleveland County
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic Homestead Exemption | Owner-occupied primary residence | Up to $35,000 | Must apply by Jan. 31 |
| Elderly/Disabled Homestead Exemption | Owner-occupied primary residence by a person 65+ years or disabled | Up to $25,000 | Must apply by Jan. 31 |
| Veterans Homestead Exemption | Owner-occupied primary residence by an honorably discharged veteran or spouse of a deceased veteran | Up to $45,000 | Must apply by Jan. 31 |
| Disabled Veterans Homestead Exemption | Owner-occupied primary residence by a disabled veteran or spouse of a deceased disabled veteran | Up to $65,000 | Must apply by Jan. 31 |
| Circuit Breaker Homestead Exemption | Owner-occupied primary residence by a person 65+ years or disabled with income less than $31,500 | Exemption varies based on income and property value | Must apply by June 1 |
It is important to note that these exemptions and deductions are specific to Cleveland County and have their own eligibility requirements and application deadlines. Therefore, it is recommended that interested individuals contact the Cleveland County Tax Assessor's office for more information and guidance on how to apply for these valuable tax savings.
When is Cleveland County Property Tax due ?
Cleveland County Property Tax is typically due on January 5th of each year. However, if January 5th falls on a weekend or holiday, the due date may be extended to the next business day.
There are several methods of payment that are accepted for Cleveland County Property Tax. These include:
-
Online payments: Cleveland County offers an online payment system where taxpayers can pay their property taxes using a credit card or eCheck. To use this service, taxpayers can go to the Cleveland County Treasurer's website and follow the prompts to make a payment.
-
Mail-in payments: Payments can also be made by mail. Taxpayers can send their payment to the Cleveland County Treasurer's Office at the address below. Payments must be postmarked by the due date to avoid penalties.
Cleveland County Treasurer 201 S. Jones Avenue, Suite 100 Norman, OK 73069
- In-person payments: Taxpayers can also make a payment in person at the Cleveland County Treasurer's Office during regular business hours. The office is located at the same address as above.
It is important to note that penalties and interest will accrue on any unpaid property taxes after the due date. Taxpayers who are unable to pay their property taxes by the due date should contact the Cleveland County Treasurer's Office to discuss payment options or to arrange a payment plan.
If you have more questions - contact your local tax collector.
How is Cleveland County Property Tax penalty calculated ?
Cleveland County calculates property tax penalties based on a specific formula. The penalty is calculated by adding 2% per month to the unpaid tax amount, starting on the first day of the month following the delinquency date. The maximum penalty is 20%.
For example, if a property owner owes $1,000 in property taxes and fails to pay by the delinquency date of January 5th, the penalty will be calculated as follows:
| Month | Penalty Percentage | Penalty Amount |
|---|---|---|
| Feb | 2% | $20 |
| Mar | 4% | $40 |
| Apr | 6% | $60 |
| May | 8% | $80 |
| Jun | 10% | $100 |
| Jul | 12% | $120 |
| Aug | 14% | $140 |
| Sep | 16% | $160 |
| Oct | 18% | $180 |
| Nov | 20% | $200 |
In this example, if the property owner pays their taxes on November 30th, they will owe a penalty of $200 in addition to the original $1,000 in taxes.
It is important for property owners to pay their taxes on time to avoid penalties and additional fees. Property tax revenue is used to fund important local services, such as schools, roads, and public safety.
We recommend contacting the Cleveland County Tax Office or a local tax professional for the most up-to-date and accurate information.