Yadkin County Property Tax Rates
The Yadkin County Property Tax rates for the year 2021-2022 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County Tax | $0.67 |
| Yadkinville Tax | $0.48 |
| Boonville Tax | $0.50 |
| East Bend Tax | $0.50 |
| Jonesville Tax | $0.50 |
| Elkin Tax | $0.44 |
Note that the rates listed above are subject to change and should be verified with the Yadkin County Tax Department.
Example of Yadkin County Property Tax Calculation
Yadkin County calculates property tax based on the assessed value of the property. The county's tax rate is currently $0.67 per $100 of assessed value.
To calculate the property tax owed, the assessed value of the property is multiplied by the tax rate. For example, if a property in Yadkin County has an assessed value of $100,000, the property tax would be calculated as follows:
$100,000 / 100 = $1,000 (assessed value divided by 100) $1,000 x $0.67 = $670 (assessed value multiplied by tax rate)
Therefore, the property owner would owe $670 in property tax to Yadkin County. It's important to note that property values and tax rates can change from year to year, so the amount owed may also change.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Yadkin County ?
Who Sets Property Tax Rates in Yadkin County?
The Yadkin County Board of Commissioners sets property tax rates in Yadkin County. They typically do this during their annual budget process, which begins in the spring and is finalized in June.
The property tax rate is determined based on the county's budget needs, which include funding for schools, public safety, and other services. The board considers various factors, such as inflation and changes in property values, when setting the tax rate.
Property owners in Yadkin County receive their tax bill in August, and payment is due in January of the following year. The tax rate for Yadkin County is currently 0.67% of the assessed value of the property.
It's important for property owners to pay their taxes on time to avoid penalties and interest charges. If a property owner has questions or concerns about their property tax bill, they can contact the Yadkin County Tax Office for assistance.
Homestead exemptions in Yadkin County ?
To provide an overview of Homestead exemptions and deductions in Yadkin County, North Carolina, a table has been created with the following columns:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exclusion | Age 65+ or Totally/Permanently Disabled | Up to $25,000 | Must apply annually by June 1st |
| Circuit Breaker Tax Deferment | Age 65+ or Totally/Permanently Disabled | Varies based on income and property value | Taxes deferred until property is sold or owner is deceased |
| Disabled Veteran Exclusion | Honorably discharged and Totally/Permanently Disabled | Up to $45,000 | Applies to primary residence only |
| Disabled Veteran Special Assessment | Honorably discharged and 100% service-connected disability | Up to $45,000 | Property tax is based on the first $45,000 of assessed value |
| Elderly or Disabled Circuit Breaker Tax Deferment | Age 65+ or Totally/Permanently Disabled | Varies based on income and property value | Taxes deferred until property is sold or owner is deceased |
| Present-Use Value Assessment | Agricultural, Horticultural, or Forestry Land | Varies based on use value | Must file an application with the county assessor's office |
It is important to note that eligibility requirements and exemption amounts may vary based on individual circumstances, and property owners should consult with a qualified tax professional or the Yadkin County Tax Office for more specific information. Additionally, all applications for exemptions and deductions must be filed annually and within designated deadlines to be considered.
When is Yadkin County Property Tax due ?
Yadkin County Property Tax is typically due on September 1st of each year. It is important for property owners to make timely payments to avoid any late fees or penalties. There are several payment methods available for residents to use, including:
| Payment Method | Details |
|---|---|
| Online | Property owners can pay their taxes online through the Yadkin County website. This method requires a credit or debit card and a convenience fee will apply. |
| Payment can be made by mailing a check or money order to the Yadkin County Tax Office. The address is provided on the tax bill. | |
| In-person | Property owners can pay in person at the Yadkin County Tax Office during regular business hours. Cash, check, and credit/debit cards are accepted. |
It is important to note that if a property owner fails to pay their tax bill by the due date, interest and penalties will accrue. In some cases, the county may also initiate legal action to collect the delinquent taxes. Therefore, it is recommended that property owners make timely payments to avoid any negative consequences.
If you have more questions - contact your local tax collector.
How is Yadkin County Property Tax penalty calculated ?
Yadkin County Property Tax Penalty Calculation
When property owners in Yadkin County fail to pay their property taxes on time, they may be subject to penalties. The penalty is calculated based on the amount of taxes owed and the length of time they remain unpaid.
The penalty for late payment of property taxes in Yadkin County is 2% of the taxes owed for the first month and an additional 0.75% for each subsequent month that the taxes remain unpaid. This means that the penalty increases each month until the taxes are fully paid.
For example, if a property owner owes $2,000 in property taxes and fails to pay on time, the penalty for the first month would be $40 (2% of $2,000). If the taxes remained unpaid for an additional three months, the penalty would increase to $51 ($13.50 for each month beyond the first).
To avoid penalties, property owners in Yadkin County should pay their property taxes on time or make arrangements with the tax department for payment plans or other options. It's important to note that unpaid property taxes can result in liens being placed on the property and potential foreclosure, so it's important to stay current on payments to avoid any legal ramifications.
We recommend contacting the Yadkin County Tax Office or a local tax professional for the most up-to-date and accurate information.