Amends GS 105-277.3(g), sound management program for forestland, to provide that the failure of an owner to cut timber within five years of the cutting schedule provided for in the forest management plan does not disqualify the land from classification under the statute if the failure is because of depressed commercial markets for timber or weather related conditions that negatively affect the timber's health.
Amends GS 105-277.4 to provide that an application for taxation on property on the basis of its value in its present use will not be denied because of the applicant's name, including the usage of the term investments in the name, if the applicant meets the substantive ownership requirements.
Effective for taxable years beginning on or after July 1, 2013.
PRESENT-USE VALUE MODIFICATIONS.
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View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT TO AMEND CERTAIN PROVISIONS REGARDING THE PRESENT-USE VALUE PROPERTY TAX DEFERRAL.Intro. by Tucker, Walters.
Status: Re-ref Com On Finance (Senate Action) (Apr 3 2013)
Bill History:
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Wed, 20 Mar 2013 Senate: Filed
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Thu, 21 Mar 2013 Senate: Passed 1st Reading
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Wed, 3 Apr 2013 Senate: Reptd Fav
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Wed, 3 Apr 2013 Senate: Re-ref Com On Finance
S 384
Bill Summaries:
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Bill S 384 (2013-2014)Summary date: Mar 20 2013 - View Summary
View: All Summaries for Bill