If you are a property owner in Belmont, North Carolina and the thought of dealing with your property taxes gives you a headache, we are here to help you through it. Belmont is a beautiful town, but unfortunately, not much in life is free. That includes living in Belmont. While property tax rates in Belmont are lower than in some other states, it can still be challenging to figure out exactly what you’ll pay in property taxes each year.
Property taxes depend on your location and home value, so property taxes can vary. This can become even more complicated if you are selling a house for cash in NC. Not to mention, there are also tax exemptions to consider.
North Carolina property taxes might feel like a burden, but with the proper research and preparation, paying your property taxes as a Belmont resident will be a breeze. If you’re looking to sell your house, or you are interested in the real estate market, several companies that buy houses in Belmont.
Let’s go over what property taxes look like in Belmont, what they mean for taxpayers, and the process for property tax exemptions in Belmont so you can prepare to pay your property taxes.
Property Taxes in Belmont, NC
According to SmartAsset and property tax records in Belmont, North Carolina’s property taxes are under the national average at 0.77%. The national average is 1.07%, so living in Belmont, North Carolina can save you on property taxes if you live in a state or city that is higher than the national average.
The property tax rate in Belmont is a huge perk as you work through this process because it means you will spend less money on property taxes each year than you would if you lived in most other states.
SmartAsset also provides a calculation tool you can figure out approximately what you will owe in property taxes based on your property value, lot size, sqft, and other factors. An assessor can help determine your property value. All you need to do is enter your zip code and assess your home value. Then you can figure out what you will pay annually in property taxes as a homeowner in Belmont.
Find a property tax lookup in Belmont or a property tax assessment in Belmont here.
How to Pay Property Taxes in Belmont, NC
Belmont’s official website outlines the instructions for paying your property taxes. One convenient aspect of paying property taxes in Belmont is that you have six months to complete your payment. You will receive your bill in July and have until January 1 to pay it.
There are several ways you can pay your property taxes in Belmont, NC 28012. These include:
- Paying by credit card
- You will have a pay a small fee
- Paying online here
- Pay by phone: 1-855-976-3866
- Pay by mail
- Gaston County Tax Collector
P.O. Box 1578
Gastonia, NC 28053
- Pay in person
- 100 E Garrison Blvd.
Gastonia, NC 28052
- Pay via dropbox
- 128 W. Main Ave.
Gastonia, NC 28052
Do not send cash when paying via dropbox or mailing in your payment. Stick to checks or money orders instead. You can also prepay your taxes before you receive your bill by calling one of the following numbers for more information:
Property Taxes While Selling Your Home in Belmont, NC 28012
Who pays for a home’s property taxes when selling a house: the buyer or the seller? The quick answer is both of them. The amount each party pays depends on when the house is sold and the sale price. The average property tax can play a factor as well.
When the deal on the house is closed, the house seller will pay an amount toward property taxes calculated by how long they lived in the house for the year. Your realtor will be able to walk you through this process. If you’re looking to sell anytime soon, be sure to check out some of the best cash home buyers in Charlotte has to offer.
Similarly, the buyer will pay a lump sum of property taxes for how long they will live in the house for the rest of the year. Of course, once the house is sold, it is the buyer’s responsibility to pay the North Carolina property taxes for years to come since they now own the house. We buy houses in North Carolina is an excellent place to look at selling your home if you’re thinking of moving elsewhere.
Belmont Property Tax Exemptions
Property owners will not always have to pay the full amount of their property taxes. Certain situations sometimes require NC property tax exemptions, which is a portion of your property tax bill that you do not have to pay. Property tax exemptions are a good thing because they lower the cost that you pay. The following situations and groups are eligible for property tax exemptions in Belmont, North Carolina.
There will be some math involved to figure out the exact amounts owed toward property taxes in Belmont by the buyer and the house seller. You can figure out the monthly property tax amount by dividing the yearly bill by 12.
From there, you can break it down by day by dividing it by 30. You will be left with a daily amount of property taxes. Finally, figure out how many days both the buyer and the seller will have lived in the house by the end of the year. Each party will then pay the correct and fair amount.
Homestead exemptions let homeowners and property owners protect the tax value of their property by excluding a certain amount of their home’s value from becoming eligible for property taxes. The property has to be the home you live in most of the time. It cannot be a vacation property or rental. In North Carolina, you must also fall into a certain category to be eligible.
This is a one-time application that must be submitted by June first. Additionally, you can only apply for eligibility for one of the programs. You cannot be eligible for more than one.
These categories include:
Property Tax Exemption for Seniors
Elderly people 65 years older or older at the beginning of the year are eligible for homestead exclusions in Belmont, North Carolina. They also must be permanent residents of North Carolina and have an income of less than $31,900.
Property Tax Exemptions for People With a Disability
Belmont property tax exemptions for seniors and disabled people work the same way. To be eligible, you must be permanently disabled, a permanent resident of North Carolina, and make less than $31,500 per year.
Property Tax Exemption for Disabled Veterans
Are you a veteran deemed disabled by the Department of Veterans Affairs and have been honorably discharged from the United States Armed forces? You are eligible for a Disabled Veterans Exclusion. This exclusion also applies to spouses of honorably discharged disabled veterans. Unlike the options for seniors or disabled individuals, there is no limit on age or income for this property tax exemption.
Other Property Tax Exemptions in Belmont, NC
Belmont, NC has one more property tax exemption option called the Homestead Circuit Breaker Deferment. While the other three options are a one-time application, you must apply for this deferment annually.
If you meet the other qualifications of the Homestead Exemptions above, have lived in your home for five years or more, and make less than $47,850 per year, you are also eligible for the Circuit Breaker Deferment. The deadline to apply for this program is also June 1.
While it may seem complicated, paying your property taxes in Belmont, North Carolina is simple. If you have no exemptions, you will receive your bill in July and have six months to pay it via one of the many methods mentioned above. If you believe you qualify for an exemption, it is worth it to take the extra couple of steps to apply. It could save you hundreds of dollars in the long run!
Want to learn more? Check out our case study here.