Bill Summaries: S107 (2011-2012 Session)

Tracking:
  • Bill S 107/SL 2011-30 (2011-2012)
    Summary date: Apr 7 2011 - View summary

    AN ACT TO REDUCE THE PROPERTY TAX OWED FOR IMPROVED PROPERTY INSIDE CERTAIN ROADWAY CORRIDORS. Summarized in Daily Bulletin 2/22/11 and 3/22/11. Enacted April 7, 2011. Effective for taxable years beginning on or after July 1, 2011.
    Transportation, Tax
  • Bill S 107 (2011-2012)
    Summary date: Mar 22 2011 - View summary

    Senate committee substitute makes the following changes to 1st edition. Repeals proposed new GS 105-277.9A (taxation of improved property inside certain roadway corridors) for taxable years beginning on or after July 1, 2021.
    Transportation, Tax
  • Bill S 107 (2011-2012)
    Summary date: Feb 22 2011 - View summary

    Amends GS 105-277.9 to provide that real property that lies within a transportation corridor marked on an official map filed under the Transportation Corridor Official Map Act (Map Act) is designated a special class of property under the North Carolina Constitution and will be taxable at 20% of the appraised value of the property (rather than 20% of the general tax rate levied on real property by the taxing unit where the property is situated) if two requirements are met, as specified.
    Enacts new GS 105-277.9A to provide that 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 the Map Act is designated a special class of property under the North Carolina Constitution and will be taxable at 50% of the appraised value of the property if the property has not been subdivided, as defined in GS 153A-335 (definition for counties) or GS 160A-376 (definition for cities), since it was included in the corridor.
    Effective for taxes imposed for taxable years beginning on or after July 1, 2011.
    Transportation, Tax
    GS 105

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