Example of Hoke County Property Tax Calculation
To calculate Hoke County property tax, one must first determine the property's assessed value. This is typically calculated by the county assessor's office, based on factors such as the size and condition of the property.
Once the assessed value is determined, the county will apply a tax rate to that value to determine the amount of property tax owed. For Hoke County, the current tax rate is $0.77 per $100 of assessed value.
For example, if a property in Hoke County is assessed at $100,000, the property tax owed would be calculated as follows:
Assessed value: $100,000 Tax rate: $0.77 per $100 assessed value Tax owed: $770
Therefore, the property owner would owe $770 in property taxes to Hoke County for that year.
It's important to note that property tax rates and assessments can vary widely depending on the county and the specific property. It's always a good idea to consult with a local real estate agent or tax professional for more specific information.
If you want appeal your property tax assessment - contact your local tax assessor.
Hoke County Property Tax Rates
The Hoke County Property Tax rates per 100$ of assessed value are as follows:
| Tax Type | Rate per 100$ of Assessed Value |
|---|---|
| County Tax | $0.67 |
| Fire District Tax | $0.10 |
| Township Tax | $0.07 |
| Municipal Tax | $0.48 (Raeford) or $0.27 (other municipalities) |
| Special District Tax | Varies based on location |
It is important to note that the special district tax rate varies depending on the location of the property in Hoke County.
Who sets property tax rates in Hoke County ?
Hoke County Property Tax Rates
- The Hoke County Board of Commissioners sets the property tax rates for Hoke County.
- The rates are established annually during the budget process, which typically takes place in the spring.
- The property tax rates are based on the assessed value of the property, which is determined by the Hoke County Tax Assessor's Office.
- The tax rates vary depending on the type of property and its location within the county.
- Property owners in Hoke County can expect to receive their annual property tax bills in the mail in July.
- It is important for property owners to pay their taxes on time, as delinquent taxes can result in penalties, interest, and even foreclosure.
As a tax advisor, it is recommended that property owners consult with a professional to ensure they are taking advantage of any available exemptions or deductions and are properly managing their tax liabilities.
Homestead exemptions in Hoke County ?
In Hoke County, North Carolina, there are various Homestead exemptions and deductions available. These can be incredibly helpful for individuals looking to reduce their property taxes. Below is a table outlining the available exemptions and deductions in Hoke County:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly/Disabled Homestead Exclusion | Owner of property, 65 years or older and/or totally and permanently disabled | Up to $25,000 | Applies to the first $25,000 of appraised value for property tax reduction |
| Disabled Veteran Exclusion | Honorably discharged disabled veteran | Up to $45,000 | Applies to the first $45,000 of appraised value for property tax reduction |
| Circuit Breaker Tax Deferment | Owner of property, 65 years or older and/or totally and permanently disabled with income below $31,500 | Tax deferment | Property taxes deferred until the property is sold or the owner's death |
| Deferred Property Tax Program | Owner of property, 65 years or older and/or totally and permanently disabled with income below $31,500 | Allows deferred payment | Property taxes deferred until a later time, such as when the property is sold |
It is important to note that individuals interested in these exemptions and deductions should reach out to the Hoke County Tax Office for further information and application requirements. Additionally, eligibility requirements may vary, so it is important to check with the tax office to ensure qualification.
When is Hoke County Property Tax due ?
Hoke County Property Tax typically due on September 1st of each year. Here are some important details about paying your property tax in Hoke County:
Payment Methods
| Payment Method | Instructions |
|---|---|
| In-person | You can pay your property taxes in person at the Hoke County Tax Office located at 227 North Main Street, Raeford, NC, 28376. You can pay using cash, check, money order, or credit/debit card (with a convenience fee). |
| Online | You can pay your property taxes online through the Hoke County Tax Office website. You can pay using a credit/debit card (with a convenience fee) or an e-check (no fee). |
| You can mail your property tax payment to the following address: Hoke County Tax Office, P.O. Box 218, Raeford, NC 28376. Be sure to include your tax bill and a check or money order. |
Late Payment Penalties
If you do not pay your property taxes by the due date, you will be subject to late payment penalties. The penalty starts at 2% for the first month and increases by an additional 3/4% each month thereafter until the tax is paid. Additionally, the tax office may charge interest on the unpaid balance.
Conclusion
To avoid late payment penalties and interest charges, it is important to pay your Hoke County Property Tax on time. Choose a payment method that works best for you and be sure to mark your calendar for the September 1st due date.
If you have more questions - contact your local tax collector.
How is Hoke County Property Tax penalty calculated ?
Hoke County calculates property tax penalties as a percentage of the unpaid taxes. The penalty accrues at a rate of 5% for the first month that the taxes are delinquent, and an additional 0.75% for each subsequent month until the taxes are paid.
For example, if a property owner owes $2,000 in property taxes and fails to pay by the due date, the penalty for the first month would be $100 (5% of $2,000). If they still haven't paid after two months, the penalty would be $115 (5% for the first month plus 0.75% for the second month), bringing the total owed to $2,215.
If the property taxes remain unpaid after a year, the county can initiate foreclosure proceedings. It's essential to pay property taxes on time to avoid accruing penalties and other legal actions.
Here's a breakdown of the penalty rate by month:
| Month | Penalty Rate |
|---|---|
| 1 | 5% |
| 2 | 5.75% |
| 3 | 6.5% |
| 4 | 7.25% |
| 5 | 8% |
| 6 | 8.75% |
| 7 | 9.5% |
| 8 | 10.25% |
| 9 | 11% |
| 10 | 11.75% |
| 11 | 12.5% |
| 12+ | 13.25% |
We recommend contacting the Hoke County Tax Office or a local tax professional for the most up-to-date and accurate information.