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My son in law told us today that NC was very high on taxes, and he gave personal property tax as one of the worst he said he was told by a NC resident that they come into your home every year and access what you have for instance if you have a $15000.00 guitar you will pay taxes on that each year etc... can some one tell me if taxes are as bad as we are hearing we now reside in FLorida... we are wanting to move to the Brevard Area of Western NC, as did the rest of our family until hearing of some of the tax woes from NC people...
That sounds absurd. It's a major violation of civil liberties for "inspectors" to search you home for items of value for tax purposes. Sounds like misinformation. There may be personal property taxes you are supposed to pay, but if anything it is self reported.
"All taxable personal property in North Carolina is appraised at its true value in money. The two main exceptions are inventories owned by manufacturers, retailers, wholesalers, and contractors as well as non-business personal property. These types of personal property have been exempted by statute in North Carolina."
My son in law told us today that NC was very high on taxes, and he gave personal property tax as one of the worst he said he was told by a NC resident that they come into your home every year and access what you have for instance if you have a $15000.00 guitar you will pay taxes on that each year etc... can some one tell me if taxes are as bad as we are hearing we now reside in FLorida... we are wanting to move to the Brevard Area of Western NC, as did the rest of our family until hearing of some of the tax woes from NC people...
Sounds like a native pulling a transplant's leg
You would probably be best assured if you contacted the tax assessor in what will be your resident county. They're easy to find on the internet.
I know that in the 20+ years we've lived here, in multiple counties, personal property has been categorized as cars, motorcycles, boats, planes .... Each year we are sent a new tax bill, each year those items have depreciated and the taxes have gone down.
Also, each January we receive a form asking if we've made any improvements to our real property, or if we've added additional buildings like a garage or shed. And .. umm ... we're also asked how many dogs we have. Those puppies are taxed as well, though ISTR that it is a set rate. I would be heartily offended if they depreciated my pupsters every year
SO personal property items like guitars, furniture, etc is exempt , but items like boats, airplanes, vehicles, etc are taxable correct? just what is high about NC taxes I have heard this from more than one NC resident as well, but the story actually came from a friend of my son in law
You probably need a response from one of the Board's RE mavens, but RE tax comparisons are difficult, as homes, areas, 'in town'/not 'in town' rates, town to town and county to county rates all vary considerably, in any state, imo.
Previous posters are correct: they do not 'come in' and check out 'my personal belongings'; in fact, they have never 'come in' my house in the almost 11 yrs we have lived here in Waynesville. My Martin D45 Vintage & Yamaha C2 grand piano are not taxed... Yes, motor vehicles, eg cars, m'cycles, snowmobiles, water craft et al, are taxed annually, but reasonably, imo. Those records are pulled from DMV and they know what you have, vehicle-wise, but the 'assessed value' is reasonable and the 'tax(es)' on your vehicles is not a big deal. Many states 'get you' on vehicles either through lofty reg fees, or tax or...
After living in NY, just outside NYC for 25 years, I can say the NC RE taxes are a shadow of what one pays currently in NY/NJ, as we still have fam in both states.
Back at the House Hunting Ranch, the OP is getting prematurely anxious over a 'cost' that may or may not be a problem to a prospective buyer, and that 'NC taxes are high' is/may be incorrect urban myth on the part of their SIL, imo. Every house for sale, on any RE site, will have pics, descriptions, RE taxes for current year, etc...so, shopping for home is not the 'drive around' forced march it used to be. Give some RE sites a look, in the areas you are considering, and see what the taxes really are.
Additionally, comparing RE taxes even in your current state of FL is broad brush effort: some areas of FL have considerably high rates, others less so. FL and NC are large states, high pop., and the RE tax, and other taxes eg county, etc. can vary remarkably in my experience.
GL, mD
Last edited by motordavid; 07-05-2012 at 08:00 AM..
Many decades ago, home furnishing were included in annual property tax. Homeowners declared the contents and the tax bill was prepared based on that along with the regular taxable stuff like buildings and land. I'm not sure when that was abandoned.
Your tax rate will vary depending on the county. In addition, if you live within an incorporated municipality and/or special taxing district, there will be an additional rate added to the county rate.
FL does have RE taxes, which even for 'homesteaders', can be considerable in some areas. Car reg fees, sales tax on many items, etc., etc. The no income tax for residents is attractive, but a state/county/city/town/school district has to have the income flow from 'somewhere'.
Our NC income tax is not onerous, and for us lucky Retired Bums it is a fair thee well in terms of real econ impact, annually, imo. Personally, I could do the FL Rez thing, (if I had to/want to), but the few quid I send the state of NC annually is not going to affect my lifestyle, nor will I miss lunchola...
GL, mD
If you are retired, there is always the Georgia mountains as an option. Starting this year, Georgia does not tax any retirement income.
The downside is that you'll have to drive farther for quality medical care and hospitals than if you locate in North Carolina close to Asheville. A lot of the Georgia mountain towns are like this, unless you can locate fairly close to Gainesville.
My son in law told us today that NC was very high on taxes, and he gave personal property tax as one of the worst he said he was told by a NC resident that they come into your home every year and access what you have for instance if you have a $15000.00 guitar you will pay taxes on that each year etc... can some one tell me if taxes are as bad as we are hearing we now reside in FLorida... we are wanting to move to the Brevard Area of Western NC, as did the rest of our family until hearing of some of the tax woes from NC people...
You were misinformed. As was stated in the above posts, personal property is vehicles etc. You do not have to list your home furnishings and musical instruments, electronics etc. Ridiculous!
No one comes into your home and inventories anything.
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Brevard, NC Personal Property taxes
