Example of Gaston County Property Tax Calculation
Gaston County calculates property taxes based on the value of the property. The county tax rate is currently set at $0.85 per $100 of assessed value.
To calculate the property tax for a property in Gaston County, the assessed value of the property is multiplied by the tax rate. For example, if a property has an assessed value of $100,000, the property tax would be calculated as follows:
$100,000 ÷ 100 = 1,000 1,000 x $0.85 = $850
Therefore, the property tax for a property with an assessed value of $100,000 in Gaston County would be $850. Property owners in Gaston County can pay their property taxes in installments or in full by the due date, which is typically in January of each year.
It is important to note that property tax rates and assessment values can change from year to year, as determined by the county government. Property owners should check with the Gaston County tax assessor's office for the most up-to-date information on property taxes in the area.
If you want appeal your property tax assessment - contact your local tax assessor.
Gaston County Property Tax Rates
The following table lists the Gaston County property tax rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.8233 |
| City of Gastonia | $0.58 |
| City of Belmont | $0.46 |
| Town of Cramerton | $0.57 |
| Town of Dallas | $0.41 |
| Town of High Shoals | $0.37 |
| Town of Lowell | $0.47 |
| Town of McAdenville | $0.51 |
| Town of Mount Holly | $0.57 |
| Town of Ranlo | $0.63 |
| Town of Stanley | $0.54 |
It is important to note that these rates are subject to change and may vary based on individual property assessments. As a tax advisor, it is recommended to review the specific property tax rates with your clients to ensure accurate and current information.
Who sets property tax rates in Gaston County ?
Who sets property tax rates in Gaston County?
The Gaston County Board of Commissioners sets property tax rates in Gaston County.
When are property tax rates set in Gaston County?
Property tax rates are set annually during the budget process, typically in the month of June. The Board of Commissioners reviews the proposed budget and sets the property tax rate based on the county's projected revenue needs and expenses.
How are property tax rates determined in Gaston County?
The property tax rate in Gaston County is determined by dividing the county's projected revenue needs by the total taxable value of all properties in the county. This results in a tax rate per $100 of assessed value. The tax rate is then applied to each property's assessed value to calculate the property tax owed.
What is the current property tax rate in Gaston County?
As of the 2021 fiscal year, the property tax rate in Gaston County is $0.82 per $100 of assessed value. However, it is important to note that property tax rates can vary depending on the location and specific taxing entities within Gaston County.
Homestead exemptions in Gaston County ?
To help homeowners in Gaston County, North Carolina navigate their property taxes, here are the Homestead exemptions and deductions available. The following table includes the exemption name, eligibility requirements, maximum amount, and any notes to keep in mind.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exclusion | Must be 65 years or older, or totally and permanently disabled as of January 1 of the tax year | $25,000 | Applies to the value of the permanent residence only |
| Circuit Breaker Tax Deferment | Must be 65 years or older, or totally and permanently disabled as of January 1 of the tax year, and meet income and property value requirements | 100% of taxes owed | Deferred taxes must be repaid with interest when the property is sold or the owner passes away |
| Disabled Veteran Exclusion | Must be a North Carolina resident and have a 100% permanent and total service-connected disability as determined by the US Department of Veterans Affairs | Up to $45,000 | Applies to the value of the permanent residence only |
| Disabled Veteran Homestead Exclusion | Must be a North Carolina resident and have a 100% permanent and total service-connected disability as determined by the US Department of Veterans Affairs | 100% of appraised value | Applies to the value of the permanent residence only |
| Present Use Value | Must meet requirements for agricultural, horticultural or forestry use | Varies | Property must remain in the designated use for a set period of time or face penalties |
It's important to note that these exemptions and deductions are specific to Gaston County and may not apply in other counties within North Carolina. Homeowners should consult with their county's tax office for more information and eligibility requirements.
When is Gaston County Property Tax due ?
Gaston 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 is extended to the next business day.
There are several payment methods available for Gaston County Property Tax, including:
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In person: Tax payments can be made in person at the Gaston County Tax Collection Office located at 128 W Main Avenue in Gastonia, NC.
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By mail: Tax payments can also be made by mail to the Gaston County Tax Collection Office at P.O. Box 1578, Gastonia, NC 28053-1578.
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Online: Taxpayers can make payments online using a credit card, debit card, or eCheck through the Gaston County Tax Collection Office website.
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By phone: Payments can also be made over the phone by calling the Gaston County Tax Collection Office at (704) 866-3131.
It is important to note that failure to pay property taxes on time can result in penalties and interest charges. Therefore, it is recommended to make payments on or before the due date to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Gaston County Property Tax penalty calculated ?
Gaston County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, a penalty is assessed on the amount due. The penalty is calculated based on a percentage of the total taxes owed and the number of days past the due date.
In Gaston County, the penalty is 2% for the first month past due and an additional ¾% for each month thereafter until the balance is paid in full. The table below provides an example of how the penalty is calculated.
| Total Taxes Due | Due Date | Days Past Due | Penalty |
|---|---|---|---|
| $2,500 | January 5 | 30 | 2% or $50 |
| $2,500 | February 5 | 60 | 2.75% or $68.75 |
| $2,500 | March 5 | 90 | 3.50% or $87.50 |
| $2,500 | April 5 | 120 | 4.25% or $106.25 |
As seen in the table, if a property owner owes $2,500 in property taxes that are due on January 5th, and the payment is not received until April 5th, the total penalty would be $312.50. This includes the initial 2% penalty of $50 plus an additional ¾% penalty for each month past due.
It's essential for property owners to prioritize paying their property taxes on time to avoid additional penalties and potential legal consequences. If you have any questions regarding the calculation of Gaston County Property Tax Penalty, you can contact the county's tax department for further assistance.
We recommend contacting the Gaston County Tax Office or a local tax professional for the most up-to-date and accurate information.