Filing deadlines are fast approaching in North Carolina
Sherrod Banks gave a free seminar on property tax exemptions for affordable housing in North Carolina and South Carolina at the Carolinas Council Conference in Myrtle Beach, South Carolina, just in time for developers, owners and housing authorities to prepare applications for property tax exemptions for 2016. Applications for tax exemptions are due in January in North Carolina; however, there is an open application cycle in South Carolina. Banks said that “… a successful application for property tax exemption could save your project thousands of dollars each year and could be the difference between a project’s success or failure. It could also be the difference between the owners and developers receiving cash flow distributions or nothing at all.”