Property Taxes

Property taxes are the various fees that homeowners have to pay the government for their real estate property. There are many factors that affect the total amount you have to pay including various exemptions or specialty rules that can be applied to your home. Before buying or selling a home you need to consider what this cost will be to ensure you have the proper finances prepared to cover these charges.

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Property Taxes in North Carolina

North Carolina property taxes or "ad valorem" are calculated based on the value of each property. The county assessor is responsible for determining the property value with each property requiring at least a reassessment be done every 8 years. Counties and cities have the right to levy taxes on top of this amount. A homeowner is required to pay the necessary taxes based on the most recent valuation which means you need to get properly assessed as if the value is not accurate you'll end up paying almost a decade of over-taxation.

Winston-Salem, NC Property Taxes

Forsyth County property tax rates are slightly higher than the state's average - thanks in part to the value of the region and the many positive factors available to residents in the county. The effective property tax rate in the county is 0.98% which ranks 21st among the 100 counties in the state. The average for the state is at 0.86%.

Sales Tax

If you are selling real estate in Winston-Salem you'll want to review the sales tax rate in the city. The minimum combined sales tax rate of 2020 is 6.75% which is the overall amount the state, county, and city applies to your transaction. These are broken down at 4.75% for North Carolina, 2% for Forsyth County, and 0% in Winston-Salem.

Check out our original blog post at https://www.winstonsalemhomes4sale.com/.

Payment Options

There is a variety of ways the government provides for you to pay the necessary property tax for your home. These include paying in person, online payments, sending it through the mail, and more. If you would like to get more information on these methods, it's best to inquire with your realtor to get the proper steps you need to follow.

Check out our original blog post at https://www.winstonsalemhomes4sale.com/.

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