Land Transfer Tax Rate

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An excise tax on instruments conveying certain interests in real property. The tax imposed is $1 per each $100 or fraction thereof of the total consideration or value of the interest conveyed.

Guide to the Realty Transfer Tax

When real estate is sold in Dare County, it is subject to local realty transfer tax. The tax is based on a percentage of the sales price. It is the duty of the party recording the deed to purchase tax stamps for local transfer tax. The tax is paid upon recording to the Dare County Register of Deeds.

EXAMPLE: House sells for $75,000.00 Transfer tax @ one percent (1%) - $750.00

There are certain transactions which are exempt from transfer taxes.  It is best to consult with an attorney or the Dare County Realty Transfer Tax Office to determine what these exemptions are.

IMPORTANT

An instrument conveying interests in real property will not be accepted for recording by the Dare County Register of Deeds unless the Dare County Realty Transfer Tax Office has examined the instrument with its “contract to purchase” and or ”affidavit of value” and a “tax certification” showing that all property taxes are paid. If property taxes are due, a check must be presented to the Realty Transfer Tax Office before a land transfer number can be assigned or the instrument recorded.

CHECK LIST TO OBTAIN A LAND TRANSFER NUMBER...
       ________ Original document                          _______ Contact/Affidavit
       ________ Copy of document                         _______ Tax Certification

Tax Certifications and Affidavits of Value or Consideration can be found on the Dare County Website.

Authorization

  • House Bill 716, 1985 Session, General Assembly of North Carolina Effective September 1, 1985
  • Resolution Requiring Collection of Delinquent Property Taxes Upon Transfer of Property

Use of Tax

  • County: Must be used only for capital expenditures or debt service incurred for capital expenditures for courts, jails and detention facilities, emergency medical services, libraries, recreation, education, administration, water, sewage, health and social services.
  • Municipalities: Must be used for capital expenditures or debt service incurred for capital expenditures.

Distribution of Tax

  • First twelve (12) years of tax, 100% of net proceeds to Dare County
  • Thereafter (beginning 7/1/97)
  • 65% to Dare County
  • 35% to named towns (Duck, Kill Devil Hills, Kitty Hawk, Manteo, Nags Head & Southern Shores) in proportion to the amount of ad valorem taxes levied by each town for the preceding fiscal year.

A person can dispute the amount of tax due stated by the tax collector to the Land Transfer Tax Appeals Board. A hearing is held by filing a written notice of appeal with the tax collector within 30 days after paying the tax. Board meets when needed.

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