Example of Davie County Property Tax Calculation
Davie County calculates property tax based on the assessed value of the property. The assessed value is determined by the county tax assessor and is based on the fair market value of the property. Once the assessed value is determined, the property owner's tax rate is applied to that value to calculate the property tax amount. This tax rate is set by the county government and can vary depending on the location and type of property.
For example, if a property in Davie County has an assessed value of $100,000 and the tax rate is 0.65%, the property tax amount would be $650. Property taxes are typically due twice a year and can be paid in full or in installments. It is important for property owners to stay up-to-date on their tax payments to avoid penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
Davie County Property Tax Rates
Here is a table listing the Davie County property tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $0.58 |
| Municipal Tax | $0.69 - $0.97 (varies by municipality) |
| Special District Tax | Varies by district |
The county tax rate is $0.58 per $100 of assessed value. Municipal tax rates vary depending on which municipality the property is located in, ranging from $0.69 to $0.97 per $100 of assessed value. Special district tax rates vary based on the specific district.
Who sets property tax rates in Davie County ?
Who sets property tax rates in Davie County?
The Davie County Board of Commissioners is responsible for setting property tax rates in Davie County. They are elected officials who meet regularly to discuss and make decisions about county taxes, budget, and policies.
When are property tax rates set in Davie County?
The property tax rates in Davie County are typically set during the county's annual budget sessions which occur in late June or early July each year. During these sessions, the Board of Commissioners reviews and approves the county's budget for the upcoming fiscal year, including tax rates.
How are property tax rates determined in Davie County?
Property tax rates in Davie County are determined by the assessed value of each property and the tax rate set by the Board of Commissioners. The assessed value of a property is determined by the county tax assessor's office and is based on the property's market value. The tax rate is then applied to the assessed value of the property to calculate the property tax due.
Below is a table showing the current property tax rates in Davie County:
| Property Type | Tax Rate Per $100 Valuation |
|---|---|
| Residential | $0.60 |
| Commercial | $0.85 |
| Personal Property | $1.35 |
It's important to note that property tax rates can vary from year to year based on changes in the county's budget and economic factors affecting property values. Property owners in Davie County should check with the county tax assessor's office to confirm the current property tax rate for their property.
Homestead exemptions in Davie County ?
Davie County, North Carolina offers a variety of Homestead exemptions and deductions to eligible residents. Here is a table outlining the different options available:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exclusion | Must be 65 years or older, or totally and permanently disabled | Up to $25,000 | Reduces property value for taxation purposes |
| Disabled Veteran Exclusion | Must have a service-connected disability of 100% | Up to $45,000 | Reduces property value for taxation purposes |
| Circuit Breaker Tax Deferment Program | Must be 65 years or older, or totally and permanently disabled with an income below $29,500 | Up to $300,000 | Allows eligible homeowners to defer property tax payments until the property is sold or the homeowner passes away |
| Present Use Value Assessment | Must use land for agriculture, horticulture, or forestry purposes | Varies based on usage | Reduces property value for taxation purposes |
Note that some of these exemptions may require additional documentation or application processes, so interested individuals should contact the Davie County Tax Office for more information.
When is Davie County Property Tax due ?
In Davie County, property tax is typically due on September 1st of each year. Property owners have until January 6th of the following year to pay their taxes. If taxes are not paid by this date, penalties and interest will accrue on the outstanding balance.
There are several methods of payment available to property owners in Davie County. These include:
-
In person: Property owners can pay their taxes in person at the Davie County Tax Office located at 123 South Main Street in Mocksville, NC. Cash, check, and credit/debit cards are accepted.
-
Online: Property owners can pay their taxes online at the Davie County Tax Office website using a credit/debit card or e-check.
-
By mail: Property owners can mail their tax payment to the Davie County Tax Office at P.O. Box 669, Mocksville, NC 27028. Checks or money orders should be made payable to Davie County Tax Collector.
-
By phone: Property owners can pay their taxes by phone by calling the Davie County Tax Office at (336) 753-6170. Credit/debit cards are accepted.
It is important for property owners to ensure that their tax payments are made on time to avoid penalties and interest. If a property owner is unable to make their payment by the due date, they should contact the Davie County Tax Office to discuss payment options.
If you have more questions - contact your local tax collector.
How is Davie County Property Tax penalty calculated ?
Davie County calculates property tax penalties based on the amount of time a taxpayer misses the payment deadline. Late payments are subject to a penalty of 2% for the first month and an additional 0.75% for every subsequent month until the payment is made in full.
Let's use an example to make it easier to understand:
Suppose a taxpayer owes $10,000 in property taxes to Davie County and misses the payment deadline by two months. The penalty would be calculated as follows:
- Month 1: $10,000 x 2% penalty = $200
- Month 2: $10,000 x (2% + 0.75%) penalty = $275
Therefore, the total penalty would be $475 ($200 + $275).
It's important to note that penalties for delinquent property taxes can add up quickly, so it's best to make payments on time to avoid incurring additional fees. Davie County offers several payment options, including online payments, mail-in payments, and in-person payments at the county tax office.
We recommend contacting the Davie County Tax Office or a local tax professional for the most up-to-date and accurate information.