Real Estate

 

Real Estate taxes are a lien on the real estate parcel itself and will transfer with the parcel during ownership changes.

 

Due Date: Tax bills for real estate are mailed to Cabarrus County property owners in July of each year. Taxes on real estate are due on September 1 and are payable through January 5 without interest. If January 5 falls on a holiday, a Saturday, or a Sunday, the payment period is extended to the next business day. At 12:01 am on the date of delinquency, interest is added in the amount of 2% of the balance. Interest accrues at 3/4%  of the balance monthly each month after until paid in full.

Mortgage Escrow Accounts: If your mortgage company requests your tax bill due to an escrow account, your bill will be mailed to your mortgage company, and you will receive a "taxpayer copy" of the tax notice. Retain your copy for income tax records.

Property Transfers: Ownership of real property is established as of January 1 of the tax year. Therefore, real estate tax notices are sent to the January 1 owner. If the property was transferred after January 1, please forward the tax notice to the new owner or contact our office so we can notify them of the taxes due. Normally, at the time of closing, the property taxes are generally prorated with the seller paying their share to the buyer. In this case, the new owner is responsible for payment of the current year property tax. Cabarrus County also sends tax notices to the owner/owners who have purchased property during the year if the taxes remain unpaid late in the year. If the taxes become delinquent, enforced collections can be taken against the owner of record as of the delinquent date, January 6. The property would also be subject to foreclosure proceedings once the tax lien has been advertised in March. If you have questions concerning the closing procedures for a recent real estate purchase, please refer to the settlement statement you received at closing or contact the attorney who handled the transaction.

Tax Relief: There are several options available for relief on partial tax value. You must qualify for one of the programs by submitting application and meeting qualifications. 

Any tax bill that has accrued interest is subject to Collections actions which could include garnishment of wages or rents, attachment of bank account(s), setoff against state income tax returns, foreclosure of real or seizure of personal property, and the release of the debt to a collection agency and the reporting of that debt to the three credit bureaus.