LINCOLN
COUNTY, NORTH CAROLINA
OFFICE OF THE TAX ADMINISTRATION
Duties
STATEMENT OF PURPOSE:
The Tax Administrator's Office performs the mandated responsibilities of
discovering, listing and appraising all real and personal property in Lincoln County for
taxation, ensuring that all property is billed and taxes are collected while maintaining
professionalism within the department and fostering good relationships within the
department, with other departments, and with the general public.
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Responsibilities
In Lincoln County the Tax Administrator is responsible for listing,
appraising, and assessing all real estate and personal property, and the collection of
taxes due on that property. The office also processes applications for any exemptions or
exclusions that may be granted under State Law, maintains up-to-date records of property
ownership and property maps, and provides for the assignments of E-911 property addresses.
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Property Value
In North Carolina, the taxable value of property is the true market
value. To appraise property the methods used are those prescribed by N.C.G.S 105-283
Uniform Appraisal Standards.
"All property, real and personal, shall as far as practicable be
appraised or valued at its true market value in money. When used in this subchapter, the
words "true value" shall be interpreted as meaning market value, the price
estimated in terms of money at which the property would change hands between a willing and
financial able buyer and a willing seller, neither being under any compulsion to buy or
sell and both having reasonable knowledge of all the uses to which the property is adapted
and for which it is capable of being used. For the purposes of this section the
acquisition of an interest in land by an entity having the power of eminent domain
with respect to the interest acquired shall not be considered competent evidence of the
true value in money of comparable land." ...
Property values change over time and must be adjusted periodically to
maintain balance and equity. To ensure that balance is maintained, the State of North
Carolina requires real property to be reappraised on a cycle that maintains an acceptable
Sales Ratio, (10% or less), (the percentage of difference between the average sales price
and its assessed value). That cycle can not exceed eight years. Because of
the rapid growth in our area, Lincoln County opted to maintain a four-year reappraisal cycle
(approved by the Board of Commissioners in 1992).
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Property
Tax Calendar
| January 1st |
Day as of which value, ownership,
and situs of real and personal property are determined for ad valorem tax purposes (GS.
105-285) |
January 1st -
January 31st |
The regular listing period for all
personal property with the exception of registered Motor Vehicles under the staggered
system (GS. 105-307) |
| January 5th |
Last day to pay current
real/personal property taxes at par (GS.105-360 (a.) |
| March 24th |
County Assessor must publish the
first of three required notices of the first meeting of the Board of Equalization and
Review (GS.105-322(f) |
| 1st Monday in April |
Earliest date for the first
meeting of the Board of Equalization and Review (GS.105-322(e) |
| June 1st |
Last day for receiving
applications for exclusion available to qualifying elderly/disabled persons
(GS.105-277.1) |
| July 1st |
First date to
receive 2% discount for early payment of real/personal property tax |
| August 31st |
Last date to receive 2% discount
for early payment of real/personal property taxes |
| September 1st |
Current Taxes become due
(GS.105-360(a)) |
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