Originally Posted by thrifty bill
Beauty of taxes here with a rate of $10 per $1000 it takes 100 years to be taxed the cost of the carport.
While slightly OT - this comment may affect the OP Soozy's decision on doing a carport as some have suggested.
Soozy should check the property tax laws in her home state of OR - regardless of what it is in NC or CA.
FYI Soozy - the "portable" canvas carports/garages like the ones posted above are generally not taxed nor considered permanent taxable improvements. However some homeowner associations, CCRs &/or City/County codes don't allow them - so check your situation.
But Bill - how much can they raise it in NC, & how much are the school & other bonds on top of that $10 per $1000?
FYI - at a permanently fixed 1.00% per $1000 here in CA - including limiting school & city/county bonds, etc
. (only the owners in a district or the original developer can add an improvement bond for infrastructure by a vote, & that's done because bond rates are lower than the interest rate putting it on your mortgage as an included cost of your home).
And your total home & property annual tax amount of say $1000 can only go up by 2% per year - so $1000 + $20 in this example, and there is no reassessment on that base tax rate valuation forever if you later add to or improve your home, add the carport, etc. - but rather they only add on the 1% for the new added construction's value.
I don't know if NC does that, or if your additions trigger a new assessment of the then current value of the total home & property value at the time of adding the carport, or whatever.
So it's actually the same as your $10 per $1000 - but here in CA we're permanently protected
by our 1970's Proposition 13 laws from any increases more than 2% per year of that $10 per $1000.
While it's the same 100+ years here, but NC can change that rate &/or add other school bonds etc. to your property tax rates at any time.
I don't believe that NC has the same permanent property tax protections from increases, nor from the other added bonds etc.
My Aunt in PA was taxed out of her home - not by the $10 per $1000 property tax - but by the $8000+ per year local bond payments added on top of that on her little $75,000 value home! That's less than 10 years for bond payments alone equally her entire home. So both the basic property tax & all local property taxes, bonds, etc. need to be considered.
CA's property tax protections are well understood nor properly taken into account by the Forbes Magazine & others who rate CA's "tax friendliness" - and so are all too often misrepresented both outside CA, as well as by real CA licensed estate professionals who are supposed to know better (including even the CA Realtors Assn.).
Additionally - CA also does not tax Social Security.