Amends GS 105-275 by adding a new subdivision (7a) excluding from the tax base real and personal property that (1) is a contiguous tract of land previously used primarily for commercial or industrial purposes and has been damaged by fire or explosion, (2) has been donated to a nonprofit corporation, as defined, and (3) has not been leased or sold by that nonprofit corporation. Effective for taxable years beginning on or after July 1, 2011, and expires for taxable years beginning on or after July 1, 2016.
MODIFY PROPERTY TAX BASE EXCLUSIONS.
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| View NCGA Bill Details | 2011-2012 Session |
TO MODIFY THE PROPERTY TAX BASE EXCLUSIONS.Intro. by Stevens, Hunt, Blue.
Status: Ref To Com On Finance (Senate Action) (Mar 2 2011)
Bill History:
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Tue, 1 Mar 2011 Senate: Filed
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Wed, 2 Mar 2011 Senate: Passed 1st Reading
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Wed, 2 Mar 2011 Senate: Ref To Com On Finance
S 164
Bill Summaries:
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Bill S 164 (2011-2012)Summary date: Mar 1 2011 - View Summary
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