Brunswick County
Property Tax Guide

Assessment administration: Revaluation cycle: Other - see footnote. Director is Appointed. Counties, cities, and towns conduct assessments.

Classification and ratios: Class 1 %; Class 2 %; Class 3 %; Class 4 %

Tax limits: When an annual appraisal, biennial appraisal, or general valuation of property would increase total property taxes by 1% or more using current regular levy rates, the rate must be reduced to produce no more than 101% of the previous year's tax levy. This rate is called the reduced or lowered tax rate. Any county or municipality may increase the rate above the reduced rate but must provide public notice and hold public hearings. Additionally, in a county, city, or town that conducts its reassessment more than once every four years, the notice for any public hearing held pursuant to this section must be published on a different day and in a different notice from any notice published for the annual budget hearing. The notice must be published at least 7 days before the hearing in a newspaper of general circulation in the city or county and posted in the building where the taxing jurisdic...

Agricultural treatment: The value of eligible land is calculated by its productivity. The local assessor must take into account the recommendations of value made by the State Lands Evaluation Advisory Council (SLEAC). At local option, a taxing entity may incorporate a sliding scale ordinance, which allows property owners enrolled in Land Use Assessment to defer additional taxes. The deferral of additional taxes requires a recorded commitment to keep the property in the qualifying use for a term of years according to the following scale: (1) for a commitment of 10-20 years, 99% of the use value taxes otherwise assessed may be deferred for the term of the commitment or (2) for a commitment of 5-10 years, 50% may be deferred.

Personal property treatment: Personal property taxed: Yes, but see explanation. Inventory taxed: Yes, but see footnote. Machinery and equipment taxed: Yes, but see footnote

Transfer charges: A state recordation tax on deeds of trust or on mortgages is imposed at a rate of $0.25 for each $100 (or fraction of $100) for the first $10,000,000 of the amount of bonds or other obligations secured. For amounts in excess of $10,000,000, the rate is determined in accordance with the following schedule: $0.22 for each $100 for the next $10,000,000; $0.19 for each $100 for the next $10,000,000; $0.16 for each $100 for the next $10,000,000; and $0.13 for each $100 for anything over $40,000,000. In addition to the state recordation tax on deeds of trust and mortgages, the council of any city and the governing body of any county may impose a city or county recordation tax on deeds of trust ...

Legal definition: "Real property" means real property that is used for residential or nonresidential purposes. For purposes of the assessment of real estate for taxation, the term "taxable real estate'' shall include a leasehold interest in every case in which the land or improvements, or both, as the case may be, are exempt from assessment for taxation to the owner. The provisions of this chapter relating to the assessment of real estate shall not apply to property required by law to be assessed by the State ...