As the New Year approaches it is almost time to apply for your own property tax deferment that may save you thousands of dollars every year! If you own commercial forestland you may be eligible for an annual tax deferment on the basis of the present use value program (PUV).
Rather than paying for the highest market value, the present use value refers to the current value of the land based on its ability to produce income. North Carolina offers land owners the opportunity to be granted a property tax deferment under certain qualifications and conditions. To qualify you must own at least 20 acres of forestland that will be or currently is used for production. Your land must be approved with a forest management plan that you can gain from a registered forester.
At Blue Ridge Forestry we specialize in fitting the PUV program to your specific priorities, concerns, worries, and goals rather than dictating heavy-handed practices that may devalue your property. We want to ensure a bright future for you and your forestland. At BRF we are happy to prepare you for the PUV and get you saving money on your property taxes as soon as we can. If you would like to get involved in this money saving opportunity, contact Blue Ridge Forestry today to get a free property tax analysis to see how much you could be saving. The deadline for applications and forest management plans is January, so act fast and get while the getting is good!