North Carolina Has HOA's & CDD Fees
Now To The Information You Need
HOA’S in North Carolina "govern" most residential home and condo developments. "HOA" stands for a Home Owners Association. That would mean just about every residential home & condo development in the state is in an HOA. There are some good ones and of course some bad ones. When your putting in an offer make sure to ask for the HOA documents that govern the development. Read them carefully and don't be afraid to ask questions. HOA fees are typically paid to the association quarterly. We see them run $100.00 to $400.00 plus a year. Ask what the fee covers or includes. Some HOA fees include cable.
The upside to having an "HOA" is they will help in preserving your property values by making sure your neighborhood is kept up and that your not living next to someone who never cuts their grass, or to the extreme their house is a dump.
The biggest complaints we hear from home buyers who did not use our agency to represent them is either the agent did not get them a copy of the HOA docs, or somehow did not understand they were now part of an HOA. To obtain these docs you have to complete a form provided by your agent and in many cases pay a fee to the property management company.
House Taxes & North Carolina's Homestead Act & Exemptions
By State Law North Carolina reappraises every property every 4 years. The last appraisal year was 2019, so we are rolling into a new appraisal.
The basic metric to use is the assessor will use your sale price as the basis for the new taxable value. As a rule of thumb, the new taxes will be 10% of the sale price. An example would be if you paid $300,000 for a condo the new tax rate would be $3,000.00; a home with a sale price of $450,000 would have an annual tax rate of $4,500.00 (approximate).
On top of this taxable number will be additions for trash pickup. The tax bills are mailed out in the 4th quarter of each year.
As soon as you close on the house you should take the purchase paperwork to the county tax collector office to apply for Exemption and protections. Your exemption will be applicable the following tax year. There are a number of homestead exemptions offered, starting with $25,000 a year value being non-taxable refer to the St Johns County Property Appraiser, the Web site is
If you would like to discuss selling or buying real estate please call us at 904-578-5596 and lets start a conversation.
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