GS 105-277.8 currently allows the value of real and personal property owned by a nonprofit homeowners’ association to be included in the assessments of the property owners and not the association if certain criteria are satisfied. Act amends the list of criteria to add a requirement that all of the property owned by the association be contained entirely within the same taxing jurisdiction as the member-owned property. Effective for taxable years beginning on or after July 1, 2011.
SIMPLIFY TAXATION OF CERTAIN HOA PROPERTY.
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| View NCGA Bill Details | 2011-2012 Session |
TO SIMPLIFY THE COLLECTION OF PROPERTY TAXES THAT ARE DUE ON PROPERTY OWNED BY CERTAIN NONPROFIT HOMEOWNERS' ASSOCIATIONS.Intro. by Justice, Jordan.
Status: Ref To Com On Finance (House Action) (Mar 16 2011)
Bill History:
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Tue, 15 Mar 2011 House: Filed
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Wed, 16 Mar 2011 House: Passed 1st Reading
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Wed, 16 Mar 2011 House: Ref To Com On Finance
H 355
Bill Summaries:
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Bill H 355 (2011-2012)Summary date: Mar 15 2011 - View Summary
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