Property Tax Lawyers in Raleigh
Raleigh, North Carolina laws require that most owners of real property pay taxes on its value. "Real property" refers to building and land, and objects (like natural resources) that are permanently attached to the land.
Property taxes in Raleigh, North Carolina are calculated as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (generally yearly) intervals.
In general, the federal government does not impose any property tax. Typically, property tax is imposed by state, county, and municipal governments.
How Property Tax is Calculated in Raleigh, North Carolina
Most often, property taxes in Raleigh, North Carolina are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of various tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.
To collect the property tax in a fair and consistent manner, Raleigh, North Carolina tax authorities need to have an objective formula for deciding the value of land under its jurisdiction.
In some ways, value is a subjective thing. For instance, the home in which you grew up is probably worth far more to you than its market value. To get around this, the government uses nothing but objective factors in deciding how much a piece of real property is worth.
To this end, the Raleigh, North Carolina appraiser will look at things like the state of the real estate market, the size of the land, the existence of additions to the land such as buildings, and the way in which the property is zoned.
How A Raleigh, North Carolina Property Tax Attorney Can Help.
The system of levying property taxes in Raleigh, North Carolina can get very perplexing. Disagreements about property taxes, between the taxpayer and the tax authorities, can come up in several different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Also, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If one of these issues affects you and your property in Raleigh, North Carolina, you should make every effort to correctly handle it. This can keep small issues from growing into large ones. The best way to do this is to seek the advice of a reputable Raleigh, North Carolina tax attorney who concentrates in property tax law.