This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property Statement Without Holdback In Mecklenburg
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State:
Multi-State
County:
Mecklenburg
Control #:
US-00123
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Word;
Rich Text
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FAQ
In Mecklenburg County, North Carolina, the homestead exemption protects a portion of the equity in your primary residence from being seized by creditors in the event of bankruptcy or other legal actions.
Property Tax Exemption North Carolina does not levy property tax on real and personal property that is used exclusively for air cleaning, waste disposal or to abate, reduce or prevent air and/or water pollution.
A senior property tax exemption is a program that provides eligible senior citizens with a reduction in their property taxes to help alleviate the financial burden of homeownership in their later years.
You can't deduct capital losses on the sale of personal use property. A personal use asset that is sold at a loss generally isn't reported on your tax return unless it was reported to you on a 1099-K and you can't get a corrected version from the issuer of the form.
The homestead exemption amount in Mecklenburg County changes periodically and is currently $35,000 per individual or $70,000 per married couple filing jointly.
The permanent residence includes the dwelling, the dwelling site (not to exceed one acre), and the related improvements. Qualifications: Minimum Age 65 years; OR Totally & Permanently Disabled - No Minimum Age. Combined Income Limit $37,900 (Applicant & Spouse)
For information regarding your property tax bill (real property and motor vehicles), contact your local property tax office (county telephone numbers).
North Carolina defers a portion of the property taxes on the appraised value of a permanent residence owned and occupied by a North Carolina resident who has owned and occupied the property at least five years, is at least 65 years of age or is totally and permanently disabled, and whose income does not exceed $55,050.
Homestead Property Exclusion / Exemption The State of North Carolina excludes from property taxes a portion of the appraised value of permanent residents owned and occupied by North Carolina residents aged 65 or older or totally and permanently disabled whose 2024 income does not exceed $37,900 annually.
How does North Carolina's tax code compare? North Carolina has a flat 4.50 percent individual income tax rate. North Carolina has a 2.5 percent corporate income tax rate. North Carolina also has a 4.75 percent state sales tax rate and an average combined state and local sales tax rate of 7.00 percent.