If your North Carolina property qualifies as a farm, you may be eligible for lower property taxes. Here’s how it works.
How does the NC farm property tax exemption work?
The property tax break for agricultural land in North Carolina is officially the present use value program. Your property taxes are calculated based on your property’s present use value for agricultural purposes rather than the full fair market value the land could sell for.
Present use value is typically a much lower valuation than market value and can result in significant property tax savings.