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Land Transfer
Inquiry | Form
The
Dare County
Land Transfer Tax
Rate of 1% is defined
as:
An excise tax on
instruments conveying certain interests in real
property. The tax imposed is $1 per each $100 or
fraction thereof of the total consideration or value
of the interest conveyed.
Authorization
- House Bill 716, 1985
Session, General Assembly of North Carolina
- Effective September
1, 1985
Use of Tax
-
County: Must be used only for capital expenditures or debt
service incurred for capital expenditures for
courts, jails and detention facilities, emergency
medical services, libraries, recreation, education,
administration, water, sewage, health and social
services.
-
Municipalities:
Must be used
for capital expenditures or debt service incurred
for capital expenditures.
Distribution of Tax
- First twelve (12)
years of tax, 100% of net proceeds to Dare County
- Thereafter
(beginning 7/1/97)
- 65% to Dare County
- 35% to named towns
(Duck, Kill Devil Hills, Kitty Hawk, Manteo, Nags
Head & Southern Shores) in proportion to the amount
of ad valorem taxes levied by each town for the
preceding fiscal year.
A person can dispute the
amount of tax due stated by the tax collector to the
Land Transfer Tax Appeals Board. A hearing is held
by filing a written notice of appeal with the tax
collector within 30 days after paying the tax. Board
meets when needed.
Dare County
Justice Center
962 Marshall C Collins Drive
Manteo NC 27954
Phone:
(252)475-5956
Fax: (252)475-5949 |
