Charlotte, NC real estate property taxes?
Thinking about moving to Charlotte.....what are the Real estate property taxes like up there because I've noticed the house prices are pretty decent?
Public Comments
- NC Taxes | NC Tax Credits | NC Incentives | SC Taxes | SC Tax Credits | SC Tax Incentives SC Financial Assistance Programs North Carolina Taxes Corporate Income Tax Flat rate of 6.9% of net income allocable to the state. Sales & Use Tax 4.5% statewide with a local rate of 2.5% or 3% on transactions (combined 7% tax is not applicable to raw materials, containers, labels, packaging and shipping materials). Franchise Tax $1.50 per $1,000 and is applied to the greatest base determined as set forth in the law. Inventory Tax North Carolina does not impose an inventory tax. Property Tax North Carolina does not impose a state property tax. Subject to local rates (county rates range 4.2-11%, city rates range 2.4-8%). Electricity 2.6% on sales of electricity, piped natural gas to farmers, manufacturers, and commercial laundry and dry cleaning establishments. Natural Gas 2.83% Telephone Service 3% local 6% intrastate $50,000 cap applies for call center operations Unemployment Insurance Rate Average tax rate of $200.40 Employers rate 0.00% to 6.84% Taxable base $17,800 North Carolina Individual Income Tax Rates Federal Deductibility No Marginal Rates and Taxes 6% > $0 7% > $12,750 7.75% > $60,000 8.00% > $120,000 Standard Deduction Single $3,000 Joint $6,000 Personal Exemptions Single $1,200 Dependents $1,200 back to top North Carolina Tax Credits Worker Training Tax Credit $500 per job ($1,000 within State Development Zone plus Tier designation) Company must be eligible for Jobs Tax Credit or Investment Tax Credit Minimum 5 or more workers that will receive training On the job training wages not eligible Must meet wage requirements Central Administrative Office Tax Credit 7% of cost of leased or purchased real property Maximum credit allowed for central administrative office property is $500,000 R & D Tax Credit 5% on R&D expenses apportioned to North Carolina NC Port Users Tax Credit Companies that utilize the NC ports in Wilmington or Morehead City can become eligible for significant tax credits. North Carolina Industrial Revenue Bonds Maximum $10 million per project, $40 million per company Business Energy Improvement Program Low interest rates for energy conservation measures Loans ranging from $100,000 to $500,000 Industrial Development Bond Grants or loans for job creation in Tier 1, 2 or 3 counties Maximum amount of $5,000 per job or $500,000 per project Road Access Funds State will provide assistance on the construction of access roads to a site Improvements to existing road infrastructure that are required due to the scope of the project area also available Road improvements must have approval of local officials North Carolina Infrastructure Assistance Rail Spur Extension Assistance Extensions or renovations of existing rail spurs may be possible through state funding Local governments may provide other improvements that reduce rail costs, such as the relocation of streets State's portion of assistance cannot exceed 50% of the total project cost. Approval of funds based on new jobs created, capital investment of project, amount of rail use and general impact of project on community and state. Industrial Extension Service Services include training, lean manufacturing assistance, energy savings analysis, environmental / health/safety analysis, etc. back to top North Carolina Incentives Job Creation Tax Credit Credit amount per job dependent on Tier designation for County. Credits in four equal installments over four years. TAX CREDIT PER JOB CREATION $750 - TIER 3 $5,000 - TIER 2 $12,000 - TIER 1 North Carolina 2007 County Tier Designations: Jobs Tax Credit Example EXAMPLE: Company A with 20 jobs relocating to City X County X - Tier 2 City X - Urban Progress Zone (UPZ) Requirements: Minimum 10 jobs created & meets county wage standard County X Tier 2 Job Tax Credit.....10 jobs x $ 5,000 per job = $ 50,000 City X Urban Progress Zone Tax Credit...15 jobs x $ 1,000 per job = $15,000 Total JobsTax Credit for Company A locating within City X = $ 60,000 Investment Tax Credit 7% on all Machinery & Equipment invested in Tier 1 5% on all Machinery & Equipment over $1 million threshhold invested in Tier 2 3.5% on all Machinery & Equipment over $2 million threshhold invested in Tier 3 Investment Tax Credit Example EXAMPLE: Company A with $4 million in eligible M & E relocating to City X County X - Tier 3 Requirements: Meets county wage standard County X $ 4M - $ 2,000,000 threshold = $ 2,000,000 x 3.5% Credit = $ 70,000 Total Investment Tax Credit for Company A locating in County X = $ 70,000 back to top
- it varies if the skchools and roads are good, the taxes are often a bit hire but, usually they are like 3 to 5 % maybe
