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State Reference - Critical Dates and Info

STATE:

NORTH CAROLINA

ASSESSMENT DATE:

1-Jan

FILING DATE:

31-Jan

PROPERTY TYPE:

Business Personal Property & Real Estate

STATE RATIO:

100%

MARKET VALUE?

WHAT’S TAXABLE:

Inventories :

Raw materials
Goods in process of manufacturing
Finished goods
Supplies (office, maintenance, janitorial, manufacturing)
Packaging materials
Fuels
Spare parts

Depreciable Assets:

Machinery and equipment
Office furniture, fixtures, and equipment
Construction work in progress (including interest during
construction)
Leasehold improvements
Software packages (tangible)
Tools, dies, molds
Motor vehicles (including mounted equipment)
Pallets and containers

Intangible Personal (Subject to Local Appraisal)

Leasehold interest in exempt real property vehicles (cars, trucks, trailers, motorcycles, and similar
property) will no longer have to be listed in January. Unregistered (untagged) motor vehicles must still be listed
annually in January and will be billed with other personal property.

RENDITION FORMS:

w:\2007 STATE FORMS\NORTH CAROLINA

EXEMPT TYPE:

Household Personal Property; Manufacturers', Retailers', Wholesalers' and Contractors' Inventory held for sale in the regular course of business; Property shipped into this state for the purposes of repair, alteration, maintenance or servicing and reshipment to outside this state; Poultry and livestock; certain computer software - does not included embedded software or software purchased or licensed from an unrelated entity and capitalized on the books of the taxpayer.

VALUE NOTICE DATE:

May (current year)

RIGHT OF PROTEST:

Taxpayer has a statutory right to appeal the county's tax assessment or valuation of the property, challenge the taxation of the property or present evidence to show that the property should be taxed as a special class of property. To exercise their statutory right of appeal, the taxpayer must initially challenge the valuation, taxation, and classification before the County Board of Equalization and Review of the Board or County Commissioners, if the County Board of Equalization and Review is not in session. If the Taxpayer receives an unfavorable decision from the County Board of Equalization and Review or from the Board of County Commissioners, then the taxpayer must submit an appeal at the State Level by fling a Notice of Appeal and Application for Hearing (Form AV-14) with the North Carolina Property Tax Commission.

PROTEST DEADLINE:

30 days after notice date.

RIGHT OF APPEAL &
FILING REQUIREMENT:

Must file a Notice of Appeal at the State Level within 30 days of receipt of county determination. Taxpayer must submit an appeal at the State Level by fling a Notice of Appeal and Application for Hearing (Form AV-14) with the North Carolina Property Tax Commission

TAX DUE:

January 6 (current year); 2% discount if paid early by deadline of August
31st of (current year)

TAXING JURISDICTIONS:

Counties, Municipalities & Special Districts; Two separate bills.
County collects County & Special District; City collects for Municipalities

AUDIT PROVISION:

Yes

LINKS:

contact us

THINGS TO CONSIDER

NORTH CAROLINA