Example of Stokes County Property Tax Calculation
In Stokes County, the property tax is calculated based on the tax rate for the year and the assessed value of the property.
To find the assessed value of the property, the county tax assessor reviews the property and determines its value.
For example, if the assessed value of a property is $100,000 and the tax rate for the year is 0.70%, the property tax calculation would be as follows:
100,000 x 0.0070 = $700
Therefore, the property tax for the year would be $700.
It's important to note that tax rates and assessed values can vary based on location and other factors. Additionally, there may be additional fees or exemptions that could impact the final property tax amount.
If you want appeal your property tax assessment - contact your local tax assessor.
Stokes County Property Tax Rates
The following is a formatted table listing the property tax rates for Stokes County. The rates are per $100 of assessed value.
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.61 |
| Schools Operating Fund | $0.61 |
| County Debt Service Fund | $0.06 |
| Schools Debt Service Fund | $0.14 |
| Fire Districts | Varies by district |
| Municipalities | Varies by municipality |
It is important to note that the fire district and municipality tax rates will vary depending on the specific district or municipality in which the property is located. Property owners in Stokes County should consult with a tax advisor to obtain more specific and accurate information about their property tax rates.
Who sets property tax rates in Stokes County ?
Who Sets Property Tax Rates in Stokes County?
The Stokes County Board of Commissioners has the authority to set property tax rates for residents of Stokes County. Property tax rates are typically set annually and are based on the assessed value of a property. The board considers factors such as the county's budget, projections for revenue and expenses, and other financial factors when setting the rates.
The exact process for setting property tax rates can vary from year to year, but generally, the Board of Commissioners will hold public meetings and hearings to discuss and gather input from stakeholders and residents. Once the rates are set, property owners will receive a bill for their property taxes due.
It's important to note that individual cities and towns within Stokes County may also levy their own property taxes in addition to the county tax. Property owners should consult with their local government or tax advisor to understand their full tax obligations.
Homestead exemptions in Stokes County ?
To help homeowners in Stokes County, North Carolina, understand their Homestead exemptions and deductions, the following table outlines the different options available to eligible homeowners:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exclusion | At least 65 years old or totally and permanently disabled | Up to $25,000 in property value | Must meet income requirements |
| Disabled Veteran Exclusion | Any honorably discharged veteran with a service-related disability | Up to $45,000 in property value | Must provide proof of military service and disability |
| Circuit Breaker Tax Deferment | At least 65 years old or totally and permanently disabled | Defers part or all of property tax until property is sold or ownership is transferred | Must meet income requirements and have lived in the property for at least five years |
| Present Use Value Program | Any owner of qualifying land used for agriculture, horticulture, or forestry | Property is assessed based on its current use rather than highest and best use | Must meet certain qualifications and file an application with the county assessor's office |
It's important to note that there may be other county-specific exemptions and deductions available as well. Homeowners in Stokes County should contact their local assessor's office or consult with a tax professional to determine the best options for their specific situation. By taking advantage of these exemptions and deductions, homeowners can potentially save money on their property taxes and better manage their finances.
When is Stokes County Property Tax due ?
Stokes County Property Tax is typically due on September 1st of each year. The payment methods available to taxpayers include:
| Payment Method | Details |
|---|---|
| Online | Payments can be made online through the Stokes County Tax Office website using a credit card or e-check. |
| Payments can be mailed to the Stokes County Tax Office by check or money order. The address is provided on the tax bill. | |
| In-person | Payments can be made in-person at the Stokes County Tax Office using cash, check, or money order. The office is located at 1012 Main St, Danbury, NC 27016. |
It is important to note that if payment is not received by the due date, penalties and interest charges may be applied. Therefore, taxpayers are encouraged to make payments in a timely manner.
If you have more questions - contact your local tax collector.
How is Stokes County Property Tax penalty calculated ?
Stokes County Property Tax penalties are calculated based on the delinquent amount owed and the amount of time it remains unpaid. Here is an example of how the penalty is calculated:
Let's say that John owns a property in Stokes County and owes $2,000 in property taxes. The due date for the taxes was January 5th, but John didn't pay until March 1st. The county charges a penalty of 2% per month on any delinquent taxes.
First, the county will calculate the amount of time that the taxes were delinquent. In this case, the taxes were delinquent for two months (February and March).
Next, the county will calculate the penalty amount. The penalty is 2% of the delinquent amount for each month that the taxes were not paid. So, in this case, the penalty would be:
- February: $2,000 x 2% = $40
- March: $2,000 x 2% = $40
Therefore, the total penalty for John's delinquent property taxes would be $80.
It's important to note that the penalty for delinquent property taxes in Stokes County can increase over time if the taxes remain unpaid. After a certain period of time, the county may also initiate legal action to collect the unpaid taxes.
To avoid penalties and legal action, property owners in Stokes County should make sure to pay their property taxes on time.
We recommend contacting the Stokes County Tax Office or a local tax professional for the most up-to-date and accurate information.