A North Carolina tax return is required for most taxpayers whose gross income exceeds the following amount for their filing status: Single - $5,500; Married Filing Jointly - $11,000; Married Filing Separately - $2,500; Head of Household - $6,900.

Generally retirement benefits by retirees of the state of North Carolina and its local governments or by retirees of the United States government (including military) are exempt if the retiree had five or more years of creditable service as of August 12, 1989. The exclusion also applies to retirement benefits received from the State’s 401(k) and 457 (deferred compensation) plans if the retiree contributed or contracted to contribute to the plan prior to August 12, 1989.

The three main elements of the property tax system in North Carolina are real property, personal property, and motor vehicles. Real property consists of land and buildings. Personal property consists of, for this guide, tangible personal property or all personal property that is not intangible and is not permanently affixed to real property. Motor vehicles, if registered, are assessed according to its registration renewal date.

Real Property

Real property is land and buildings. State law requires that real property be reassessed or revalued at least once every 8 years. Counties may adopt shorter intervals and Brunswick County now revalues every 4 years. This assessment is made by the county Tax Administration office. In Brunswick County, the current cycle is 2003, 2007 and 2011.

Personal Property

Personal property includes such items as mobile homes, untagged motor vehicles, boats, motors, farm equipment, aircraft, business machinery and equipment, or property rented to others as part of business. The tax rate for personal property is the same as the tax rate for real property.

Motor Vehicles

Motor vehicles are billed for personal property taxes approximately four months after the registration is renewed or tags are purchased for a new vehicle. The billing process is begun with the registration, therefore; when trading in one vehicle for another, be sure to transfer the tag to the new vehicle. Do not get a new tag registration or it will result in a second tax billing & liability. When you receive your vehicle registration renewal card from the DMV, make sure your address and county are correct. If the address and county are not correct, DMV must be notified so you are taxed by the proper county and city. About four months after your registration renewal, you will receive a bill which is payable on the first day of the following month. 5% interest is added if you pay the month after your bill. An additional .75% is added each additional month it is paid late.