Taxes | Charlotte University, Ballantyne and Lake Norman Homes

What If You Can’t Pay The Full Balance On Notice of Collection From NCDOR

If you receive a Notice of Collection from the NCDOR, don't ignore it, even if you don't have the funds to pay the full balance. Notice N0002401 goes out if a taxpayer's tax debt is final and collections are about to start on the debt. Ignoring the notice until you have the funds just worsens the problem and will add to the debt significantly. If you get a Notice of Collection from the NCDOR, respond right away. If you can pay the full balance, that's great! Here's the online form for that. … Continue reading...

NC Property Tax Relief Deadline Approaching For The Elderly or Disabled Exclusion

Elderly Or Disabled Exclusion for property tax relief

If you intend to apply for the Elderly or Disabled Exclusion which offers property tax relief, the deadline is this week! With a June 1 deadline and Memorial Day on Monday, you're almost out of time. The property tax relief program lets elderly or totally and permanently disabled homeowners in North Carolina exclude the greater of the first $25,000 or half of the appraised value of their permanent residence. So, it can save quite a bit of money in property taxes. Still, homeowners must apply … Continue reading...

NC Circuit Breaker Property Tax Deferment Deadline Approaching

The NC Circuit Breaker Property Tax Deferment program limits yearly property taxes to a percentage of a qualifying homeowner's income. So who qualifies? Well, under the NC Circuit Breaker Property Tax Deferment, North Carolina homeowners older than 65 years of age or totally and permanently disabled qualify as long as their income meets the eligibility limits. So, it's a two tiered program. See, for the 2018 tax year, if the qualifying North Carolina homeowner made less than $29,600 last … Continue reading...

NC Property Tax Relief Deadline Approaching For Disabled Veterans

Disabled veterans in North Carolina qualify for property tax relief.

North Carolina's disabled veterans may qualify for property tax relief. The tax relief program excludes up to the first $45,000 of the appraised value of the disabled veteran's permanent residence. Unlike other tax relief programs, North Carolina set no income limit for this tax relief for veterans. A disabled veteran must have their character of service at separation listed as honorable or under honorable conditions to qualify. Also, the disabled veteran must have a total and permanent … Continue reading...

North Carolina’s Tag And Tax Together Program

North Carolina's Tag and Tax Together program is for your vehicle property tax only. Keep in mind, it has nothing to to with your mortgage or home property tax. The Tag and Tax Together program streamlines the payments for vehicle registration and vehicle taxes. It started five years ago. All payments go right to the North Carolina Division of Motor Vehicles. The DMV then distributes the funds to the appropriate counties, depending on where you live. You can't renew your registration anymore … Continue reading...

Property Tax Relief Options Offered By North Carolina

Did you know that some North Carolina homeowners can benefit from one of three state programs that offer property tax relief? It's true! If you are a disable vet, low-income, or elderly, you might qualify for property tax relief! Deferral Program for Disabled or Elderly Homeowners The first program is a deferral program. It makes it so that eligible property owners can defer their property taxes to pay at a future date. Many choose to use this program until they sell their property. It … Continue reading...

Energy Investment Tax Credit (ITC) For Solar Power Systems Stays At 30 Percent Through 2019

There isn't much longer to take advantage of the huge tax credit for solar power systems offered by the federal government. That's right: Through the Energy Investment Tax Credit (ITC), the federal government offers homeowners a tax credit that essentially reimburses homeowners for the entire purchase price of a solar array system by 30 percent! Did you know that the credit even applies if you finance the solar system instead of paying for the costs upfront? This makes the initial year much … Continue reading...

Did You Catch All Your Homeowner Tax Deductions for 2016?

Homeowner Tax Deductions for 2016 - Charlotte NC Homes for Sale

Whether you own a luxury home in University City or a house in Mint Hill, tax day is fast approaching—and it’s always a good idea to make sure you’re not missing any homeowner deductions or credits that you’re entitled to receive. This isn’t tax advice; it’s just a guide that can help you spot credits or deductions that you may have missed. If you need tax advice, it’s a good idea to talk to a licensed tax professional. What Tax Deductions and Credits Are Available to Homeowners? The … Continue reading...