Real Property

Real Property consists of real estate and any improvements permanently affixed thereto, such as buildings.

Real Property Tax Returns
A real property tax return must be filed only once provided:
  1. The property was previously returned by current owner;
  2. You have not sold, traded or given away any of your property;
  3. You have not made any improvements of any kind. This does not include repairs or maintenance. (A taxable improvement is one that increases the value of your property, and these must be reported.
  4. You have not torn down any buildings or had any destroyed by fire or bad weather.

If you acquired real property by transfer during the preceding tax year and no subdivision or improvements to the property have been made during the year of transfer, you are not required to file a property tax return if a properly completed PT-61 Real Estate Transfer Tax form is filed with the Clerk of Superior Court and the tax is paid.

If you do not file a return, the property is deemed returned at the same valuation as was finally determined for the year in which the transfer took place.

A return must be filed if the property transferred has been split from existing property or substantial improvements have been made. You must provide a copy of the warranty or other deed. A 10% penalty is assessed for failure to file a required return by the April 1 deadline.