Form AV-65 Builder Property Tax Exemption - North Carolina

What Is Form AV-65?

This is a legal form that was released by the North Carolina Department of Revenue - a government authority operating within North Carolina. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form AV-65?
A: Form AV-65 is a tax exemption form for builder properties in North Carolina.

Q: Who is eligible for the Builder Property Tax Exemption?
A: Builders who meet certain criteria specified by the North Carolina Department of Revenue are eligible for the Builder Property Tax Exemption.

Q: What is the purpose of the Builder Property Tax Exemption?
A: The purpose of the exemption is to provide temporary relief from property tax assessments on properties held for sale by builders.

Q: What information do I need to provide on Form AV-65?
A: You will need to provide information about the property and the builder, including the builder's name and address.

Q: When should I file Form AV-65?
A: Form AV-65 should be filed with the local tax office within 30 days of the date the builder acquires the property.

Q: How long does the exemption last?
A: The exemption lasts for a period of one year from the date the builder acquires the property.

Q: Is there a fee to file Form AV-65?
A: No, there is no fee to file Form AV-65.

Q: What happens if I sell the property before the exemption expires?
A: If the property is sold before the expiration of the exemption, the exemption is terminated and the builder may be subject to property taxes for the remaining portion of the year.

Q: Are there any penalties for not filing Form AV-65?
A: Failure to file Form AV-65 may result in the assessment of property taxes on the builder property.