Example of Pasquotank County Property Tax Calculation
Pasquotank County calculates property tax by multiplying the assessed value of a property by the county's tax rate. For example, if a property has an assessed value of $100,000 and the tax rate is 0.68%, the property tax owed would be $680.
To find the assessed value of a property, the county appraises the property's market value and applies an assessment rate. In Pasquotank County, the assessment rate for residential properties is currently set at 100%. So, if a home is valued at $200,000 by the county appraiser, the assessed value would be $200,000.
It is important to note that property tax rates can vary by county and even by city within a county. Additionally, tax rates can change each year based on budget needs and assessments of property values. Property owners should check with their local county tax office for the most up-to-date tax rate information and to ensure they are paying the correct amount of property tax.
If you want appeal your property tax assessment - contact your local tax assessor.
Pasquotank County Property Tax Rates
The following table lists the Pasquotank County Property Tax rates per $100 of assessed value:
| Tax | Rate per $100 Assessed Value |
|---|---|
| County Tax | $0.5535 |
| City Tax | $0.5300 |
| Fire District | $0.0800 |
Note: These rates are subject to change and may vary depending on the property's location and classification. It is recommended that property owners consult with a qualified tax advisor for further information.
Who sets property tax rates in Pasquotank County ?
Pasquotank County Property Tax Rates
Property tax rates in Pasquotank County are set by the Pasquotank County Board of Commissioners. They are responsible for determining the tax rate each year based on the county's budgetary needs.
The tax rate is typically set in the summer or early fall, before property tax bills are sent out in the mail. The tax rate is expressed as a percentage of a property's assessed value and is used to calculate the amount of property tax owed by the property owner.
It's important to note that property tax rates can vary from year to year depending on a number of factors, including changes in property values and county budgetary needs.
If you own property in Pasquotank County, it's important to stay informed about property tax rates and any potential changes that could affect your taxes. You can contact the Pasquotank County Tax Assessor's office or visit their website for more information on property tax rates and assessments.
Homestead exemptions in Pasquotank County ?
In Pasquotank County, North Carolina, there are various Homestead exemptions and deductions available to eligible residents. The following table outlines the exemptions, eligibility requirements, amounts, and any important notes to keep in mind:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exclusion | Must be 65 years or older or totally and permanently disabled | Up to 50% of the appraised value, not to exceed $25,000 | Must apply for this exemption with the county tax office |
| Circuit Breaker Tax Deferment | Must be 65 years or older or totally and permanently disabled and have a household income of $31,000 or less | Up to an amount equal to the property taxes due for that year | This is a loan and must be repaid with interest when the property is sold or the owner passes away |
| Disabled Veteran Exclusion | Must be a veteran with a 100% service-connected disability | Up to $45,000 | Must provide documentation from the Department of Veterans Affairs to the county tax office |
| Disabled Veteran Homestead Exclusion | Must be a veteran with a 100% service-connected disability and own and occupy the property as their primary residence | Up to $45,000 | Must provide documentation from the Department of Veterans Affairs to the county tax office |
| Surviving Spouse Exclusion | Must be the surviving spouse of a qualifying individual who was receiving the Elderly or Disabled Exclusion at the time of their death | Up to 50% of the appraised value, not to exceed $25,000 | Must apply for this exemption with the county tax office |
It is important to note that all of these exemptions and deductions have specific eligibility requirements and application processes that must be followed. Homeowners in Pasquotank County should contact the county tax office for more information on how to apply for these benefits.
When is Pasquotank County Property Tax due ?
Pasquotank County Property Tax Due Date and Payment Methods
Property taxes are an essential source of revenue for local governments in the United States. In Pasquotank County, North Carolina, property taxes are due annually on September 1st. However, if the due date falls on a weekend or holiday, the deadline moves to the next business day.
Payment Methods
There are several ways to pay Pasquotank County Property Tax:
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In person: You can visit the Pasquotank County Tax Office, located on the first floor of the County Courthouse, to pay your property taxes in person. The office accepts cash, checks, money orders, Visa, Mastercard, and Discover.
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By mail: You can mail your property tax payment to the Pasquotank County Tax Office at P.O. Box 185, Elizabeth City, NC 27907. Be sure to include your tax bill and a check or money order payable to Pasquotank County Tax Collector.
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Online: You can pay your property taxes online through the Pasquotank County Tax Office website. You can use a credit card, debit card, or e-check to make your payment.
Late Payments
It's important to pay your property taxes on time to avoid late fees and interest charges. If you miss the September 1st deadline, a 2% interest charge will apply to your account on the first day of each month until the taxes are paid in full. Additionally, a 10% late fee will be added to your account on January 6th if the taxes are still unpaid.
Conclusion
Pasquotank County property taxes are due on September 1st each year. To avoid late fees and interest charges, make sure to pay your property taxes on time. You can pay in person, by mail, or online, using various payment methods.
If you have more questions - contact your local tax collector.
How is Pasquotank County Property Tax penalty calculated ?
Pasquotank County Property Tax Penalty Calculation
In Pasquotank County, property taxes are levied on real property, which includes all land and buildings located within the county. Property taxes are due on September 1st of each year, and if not paid by January 5th of the following year, a penalty is assessed.
The penalty is calculated at a rate of 2% for the first month after the due date, and an additional ¾% each month thereafter until the tax is paid in full. The maximum penalty that can be assessed is 15%.
For example, if a property owner in Pasquotank County has a property tax bill of $2,000, and they fail to pay by the January 5th deadline, the penalty would be calculated as follows:
- February 5th: $2,000 x 2% = $40
- March 5th: $2,000 x 2.75% = $55
- April 5th: $2,000 x 3.5% = $70
- May 5th: $2,000 x 4.25% = $85
- June 5th: $2,000 x 5% = $100
- July 5th: $2,000 x 5.75% = $115
- August 5th: $2,000 x 6.5% = $130
- September 5th: $2,000 x 7.25% = $145
- October 5th: $2,000 x 8% = $160
- November 5th: $2,000 x 8.75% = $175
- December 5th: $2,000 x 9.5% = $190
- January 5th (maximum penalty): $2,000 x 15% = $300
Therefore, if the property tax bill is paid on January 6th, the total amount due would be $2,000 (original tax bill) + $1,250 (penalties) = $3,250.
It is important to note that property owners who are unable to pay their property taxes by the due date may be eligible for a payment plan or other assistance programs. Property owners in Pasquotank County should contact the tax office for more information.
We recommend contacting the Pasquotank County Tax Office or a local tax professional for the most up-to-date and accurate information.