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Taxes & Incentives
Tax Credits
The "William S. Lee Quality Jobs and Business Expansion Act" offers an Investment Tax Credit, a Jobs Creation Tax Credit, a Worker Training Tax Credit, a Research and Development Tax Credit and a Business Property Tax Credit. All tax credits can be taken against income or franchise taxes and have carry-forward provisions. The total value of credits cannot exceed 50% of annual tax liability. In January 2006, Burke County was designated as a Tier 3 County. There are two development zones located in Morganton with credits further enhanced.
Taxes
Burke County has a low tax rate and very few special tax districts. The County Tax Supervisor determines property values and the different taxing units apply their specified rate. There are no special school tax districts, sanitation tax districts, recreation tax districts or rescue tax districts in Burke County.
2007-2008 rates per 100-dollar valuation
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Burke County
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.52 cents
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Special Morganton Downtown Business
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.14 cents
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Municipalities
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Drexel
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.38 cents
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Connelly Springs
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.05 cents
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Glen Alpine
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.27 cents
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Hickory
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.50 cents
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Hildebran
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.15 cents
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Long View
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.40 cents
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Morganton
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.46 cents
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Rhodhiss
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.55 cents
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Rutherford College
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.10 cents
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Valdese
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.40 cents
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