North Carolina General Statutes 105-277.9A. (See note for repeal) Taxation of improved property inside certain roadway corridors
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Terms Used In North Carolina General Statutes 105-277.9A
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) Reduced Assessment. – Real property on which a building or other structure is located and that lies within a transportation corridor marked on an official map filed under Article 2E of Chapter 136 of the N.C. Gen. Stat. is designated a special class of property under Section 2(2) of Article V of the North Carolina Constitution and is taxable at fifty percent (50%) of the appraised value of the property if the property has not been subdivided, as defined in N.C. Gen. Stat. § 153A-335 or N.C. Gen. Stat. § 160A-376, since it was included in the corridor.
(b) Sunset. – This section is repealed effective for taxes imposed for taxable years beginning on or after July 1, 2021. (2011-30, s. 2.)