Jerod posted on January 29, 2010 08:39
NEWS RELEASE
MECKLENBURG COUNTY TAX ASSESSOR’S OFFICE
Jan. 27, 2010
FOR IMMEDIATE RELEASE
TO AVOID PENALTY, PERSONAL PROPERTY
MUST BE LISTED BY FEB. 1, 2010
Charlotte, NC -- Residents and businesses that own property such as watercraft, manufactured housing, farm tractors, aircraft, machinery, equipment, furniture, fixtures, supplies and any other income-producing personal property physically located within Mecklenburg County must list their property with the Mecklenburg County Assessor’s Office by Feb. 1, 2010, in order to avoid penalties. Any listings received after midnight that day will be assessed a 10 percent penalty.
This provision includes unregistered (untagged) motor vehicles.
Property listings may be made by mail or in the Assessor’s Office on the first floor of Bob Walton Plaza, 700 E. Stonewall St., Suite 103, between 8 a.m. and 5 p.m.
For residents unable to make full tax payments, several programs offer assistance.
Tax Relief Programs
Low Income Homestead Exclusion: North Carolina excludes from property taxes $25,000 or 50 percent (whichever is greater) of the assessed value for specific real property or manufactured homes occupied by an owner as their permanent residence who meets the following qualifications as of January 1 preceding the taxable year for which the benefit is claimed.
1) Is at least 65 years old or totally and permanently disabled.
2) Has an income for the preceding calendar year of not more than $27,100.*
3) Is the legal owner listed on the title as of January 1.
4) Is a North Carolina resident.
Circuit Breaker Property Tax Deferment (Payment Postponement): Limits property taxes to a percentage of the owner’s income. For an owner whose income does not exceed the annual income eligibility limit for the Low Income Household Exclusion (above), owners’ taxes are limited to 4 percent of their income. For owners whose annual income exceeds the limit by not more than 150 percent, taxes will be limited to 5 percent of their income. The taxes exceeding the applicable percentage of the owner’s income will then become deferred (postponed) along with interest until a disqualification. To qualify, the applicant must meet the following requirements:
1) Is at least 65 years old or totally and permanently disabled.
2) Has an income for the preceding calendar year of not more than $40,650.* (150 percent of Low Income Homestead Exclusion).
3) Is the legal owner listed on the title as of January 1, for the past five years.
4) Is a North Carolina resident.
5) ALL owners of the property must apply and elect to defer the applicable portion of their taxes.
6) Application is required ANNUALLY.
Totally and Permanently Disabled Veterans: North Carolina excludes from property taxes the first $45,000 of assessed value for specific real property or a manufactured home that is occupied by the owner as their permanent residence. To qualify, applicants must meet the following requirements:
1) Must be an honorably discharged veteran who has a 100 percent total and permanent disability that is service connected.
2) Must have a Veteran’s Disability Certification (NCDVA-9) and be able to provide a DD214 or DD215 form.
3) Applicant can be the unmarried and never remarried spouse of a qualifying deceased veteran.
4) Applicant can be a qualifying veteran with specially adapted housing per 38 U.S.C. 2101.
NOTE: Disability PENSIONS are not service connected.
To receive an application, call CharMeck 311. The deadline to apply for these exclusion programs is June 1, 2010. For more information, contact the Assessor’s Office at (704) 336-6348 or RPEMAIL@MecklenburgCountyNC.gov
*Income is defined as all money received from every source other than gifts or inheritances received from a spouse, lineal ancestor or lineal descendant. For married applicants residing with their spouses, the income of both spouses must be included, whether or not the property is in both names.
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