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Old 04-20-2008, 12:34 PM
 
Location: CT
24 posts, read 79,780 times
Reputation: 18

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Hello everyone,
We currently live in and are unhappy with the northeast. (CT). We just don't "fit-in" up here and have traveled a bit, and feel more suited to "the south." We want to establish a farm, horses/etc and expand our sawmill operation. Pretty tough to do that up here between all the tight regs on zoning and running trucks/equipment, and more so with the heavy taxes and high costs of registration and insuring trucks.
I lived in Alamance county for a couple of years in the last '90s and that area was very appealing. Don't know how it is now, but anyway, we are looking for info on taxes in NC. Up here we pay property taxes which are pretty steep. For a home worth around 200K, the taxes are usually around 4000/year. We pay taxes yearly on our vehicles, and business taxes as well as registration YEARLY on the trucks (every 2 yrs for regular vehicles).
We're not looking for a huge home in a new subdivision. We're looking for a decent piece of property and an older farmhouse and don't want to pay dearly for taxes. Any info appreciated, thank you>
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Old 04-20-2008, 12:58 PM
 
Location: Blue Ridge Mtns of NC
5,661 posts, read 25,741,303 times
Reputation: 3846
State Income Tax Rate - 6%-7.75%. No local income tax.

Property tax, including motor vehicles, is a local tax. Your tax rate will depend on where you choose to live. Current county rates vary from 0.220 to 1.0600 per $100. If you live within a incorporated municipality, there will be an additional property tax.

General Sales Tax is a two-part tax in NC, state and local.

General State Sales Tax Rate - 4.25% (Effective 12/1/06)

General Local Sales Tax Rate - 2.5% (All counties except for the following):

Alexander - 2.75%
Catawba - 2.75%
Martin - 2.75%
Mecklenburg - 3%
Pitt - 2.75%
Sampson - 2.75%
Surry - 2.75%

Additional counties will vote on increases to the local 2.5% tax rate on May 6, 2008.

Sales tax on food is a bit tricky. Depends on the actual item, county of sale and level of preparation prior to sale. Many food items are exempt from the state's 4.25% general sales tax, but not from the local sales tax which varies from county to county.

Last edited by mm34b; 04-20-2008 at 01:09 PM..
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Old 04-20-2008, 07:35 PM
 
16,308 posts, read 26,716,241 times
Reputation: 8339
You forgot the big one, State Income Tax, often as much as your federal income tax liability.
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Old 04-21-2008, 06:28 AM
 
Location: Blue Ridge Mtns of NC
5,661 posts, read 25,741,303 times
Reputation: 3846
Default 2008 Tax Referendums

This counties will vote on proposed tax increases.

Ashe - Land Transfer May 6
Burke - Sales Nov. 4
Columbus - Sales Nov. 4
Cumberland - Sales May 6
Duplin - Sales May 6
Edgecombe - Sales May 6
Gaston - Sales May 6
Gates - Land Transfer May 6
Greene - Sales May 6
Guilford - Sales May 6
Haywood - Sales May 6
Henderson - Sales May 6
Hertford - Sales May 6
Lee - Sales May 6
Lincoln - Sales May 6
Moore - Sales May 6
Nash - Sales May 6
Onslow - Sales May 6
Orange - Land Transfer May 6
Polk - Land Transfer Nov. 4
Randolph - Sales May 6
Rockingham - Sales May 6
Stanly - Sales May 6
Wayne - Sales May 6
Wilkes - Sales May 6
Wilson - Sales May 6

Last edited by mm34b; 04-21-2008 at 06:41 AM..
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