Example of Edgecombe County Property Tax Calculation
Edgecombe County property tax is calculated based on the assessed value of the property. The assessed value is determined by the county tax assessor's office, which takes into account the market value of the property, any improvements made to it, and other factors.
Once the assessed value is determined, the tax rate for Edgecombe County is applied. This rate is set by the county government and is typically expressed as a percentage of the assessed value.
For example, if the assessed value of a property in Edgecombe County is $100,000 and the tax rate is 1%, the property owner would owe $1,000 in property taxes for the year.
It's important to note that property tax rates and assessed values can vary depending on the location and type of property. Property owners in Edgecombe County should consult with their local tax assessor's office for specific details about their property tax calculation.
If you want appeal your property tax assessment - contact your local tax assessor.
Edgecombe County Property Tax Rates
The Edgecombe County Property Tax rates are as follows:
| Tax | Rate per $100 assessed value |
|---|---|
| County General | $0.86 |
| County Fire District | $0.06 |
| County Solid Waste | $0.07 |
| County School | $0.97 |
| Town of Leggett | $0.50 |
| Town of Macclesfield | $0.43 |
| Town of Pinetops | $0.57 |
| Town of Princeville | $0.58 |
| Town of Rocky Mount | $0.60 |
| Town of Sharpsburg | $0.50 |
| Town of Speed | $0.41 |
| Town of Tarboro | $0.60 |
Note that these rates are per $100 of assessed value. It is important for taxpayers to be aware of these rates when calculating their property tax liability.
Who sets property tax rates in Edgecombe County ?
Who sets property tax rates in Edgecombe County?
The Edgecombe County Board of Commissioners sets the property tax rates for Edgecombe County, North Carolina.
When are the property tax rates set?
The property tax rates are set annually by the Edgecombe County Board of Commissioners during their budget planning process, which usually takes place in the months of May and June.
How are property tax rates determined?
Property tax rates are determined by taking the total amount of revenue needed to fund the county's budget and dividing it by the total assessed value of all taxable property in Edgecombe County. This results in a tax rate per $100 of assessed property value.
Once the tax rate is set, property owners in Edgecombe County will receive their tax bill, which will be based on the assessed value of their property and the current tax rate.
It's important for property owners in Edgecombe County to understand their property taxes and how they are determined, as property taxes provide essential revenue for funding local government services and programs.
Homestead exemptions in Edgecombe County ?
In Edgecombe County, North Carolina, there are several Homestead exemptions and deductions available for eligible residents. Let's take a closer look at each of them and what they entail:
Homestead Exemptions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or disabled exemption | Must be at least 65 years old or totally and permanently disabled | Up to $25,000 of the appraised value of the property | Must apply with the county tax department |
| Disabled veteran exemption | Must be a veteran with a disability rating of at least 50% | Up to $45,000 of the appraised value of the property | Must apply with the county tax department |
| Circuit breaker tax deferment | Must be at least 65 years old or totally and permanently disabled | Defers property tax payment until the property is sold or the owner dies | Must meet income requirements and apply with the county tax department |
Deductions
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Disabled veteran deduction | Must be a veteran with a disability rating of at least 100% | $45,000 of the assessed value of the property | Must apply with the county tax department |
| Agricultural land deduction | Properties used for farming or forestry purposes | Up to $1,000 per acre of the property | Must apply with the county tax department |
| Present use value taxation | Properties used for agricultural, horticultural, or forestry purposes | Taxed based on current use rather than market value | Must apply with the county tax department |
It's important to note that eligibility requirements and amounts may vary by county and can change over time. It's recommended to check with the Edgecombe County tax department for the most up-to-date information and to apply for any exemptions or deductions that may apply to you.
When is Edgecombe County Property Tax due ?
Edgecombe County Property Taxes are typically due on September 1st of each year. Property owners in Edgecombe County have a few payment methods available to them for paying their property taxes. The payment methods include:
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Mail: Property owners can mail in their tax payment using a check or money order. The mailing address for tax payments is:
Edgecombe County Tax Collector P.O. Box 10 Tarboro, NC 27886
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In-Person: Property owners can pay their taxes in person by visiting the Edgecombe County Tax Collector's office located at:
201 St. Andrew St. Room 115 Tarboro, NC 27886
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Online: Property owners can also pay their taxes online using a credit or debit card. They can do this by visiting the Edgecombe County Tax Collector's webpage and clicking on the "Pay Taxes Online" button. Please note that a convenience fee will be charged for paying taxes online.
Property owners should keep in mind that if their property taxes are not paid by January 5th of the following year, interest will begin to accrue at a rate of 2% per month until payment is made.
If you have more questions - contact your local tax collector.
How is Edgecombe County Property Tax penalty calculated ?
Edgecombe County Property Tax Penalty Calculation
In Edgecombe County, property taxes are due on September 1st of the current year. A taxpayer who fails to pay the full amount by this date will be subject to penalties and interest charges. The penalty is calculated as a percentage of the unpaid taxes, and the interest is calculated on a monthly basis.
Below is an example to illustrate how the Edgecombe County Property Tax Penalty is calculated:
| Tax Year | 2021 |
|---|---|
| Property Value | $100,000 |
| Assessed Value | $80,000 |
| Tax Rate | $1.25 per $100 assessed value |
| Property Tax | $1,000 ($80,000 x 1.25%) |
| Due Date | September 1, 2021 |
| Payment Date | November 1, 2021 |
| Penalty Rate | 10% (of unpaid taxes) |
| Interest Rate | 1% per month (of unpaid taxes) |
In this example, the property tax due for the 2021 tax year is $1,000. If the taxpayer fails to pay this amount by the due date of September 1st, they will be subject to penalties and interest charges.
Assuming the taxpayer pays the full amount on November 1st, they will be subject to a penalty of $100 (10% of the unpaid taxes of $1,000) and interest charges of $20 (1% per month of the unpaid taxes for two months). Therefore, the total amount due on November 1st would be $1,120 ($1,000 + $100 + $20).
It is important to note that the penalty and interest charges will continue to accrue until the full amount is paid. Therefore, taxpayers are encouraged to pay their property taxes on time to avoid additional charges.
In summary, the Edgecombe County Property Tax Penalty is calculated as a percentage of the unpaid taxes, with interest charges accruing on a monthly basis until the full amount is paid.
We recommend contacting the Edgecombe County Tax Office or a local tax professional for the most up-to-date and accurate information.