Section 1.

Adds new GS 159-13.3 prohibiting the governing body of a taxing authority from adopting a property tax rate greater than the revenue-neutral tax rate as determined under GS 159-11(e), unless the governing body has passed a resolution or ordinance allowing the tax rate to exceed the revenue-neutral tax rate. Applies during years where a general reappraisal of real property has been conducted.

Requires the governing body to publish general and specific notice of intent to exceed the revenue-neutral tax rate, describes notice form and content, and requires a public hearing. Requires majority approval of governing body to pass an ordinance or resolution allowing the tax rate to exceed the revenue-neutral rate. Provides that such ordinance or resolution must be passed before the adoption of the budget ordinance.

Requires a governing body that does not comply with the requirements of this statute to refund any property taxes collected exceeding the amount that would have been collected under the revenue-neutral tax rate.

Adds new subdivision GS 159-13(b)(7a) binding a governing body to the requirements of GS 159-13.3 in adopting the budget ordinance for years where a general reappraisal of real property has been conducted.

Effective when the act becomes law and applies to budget ordinances adopted for fiscal years after July 1, 2027.

Section 2.

Amends GS 93E-1-7(c) to increase the late filing fee for lapsed real estate appraiser trainee registrations, licenses and certificates to $12.00 per month (was, $10.00 per month). Effective July 1, 2026, and applies to registrations, licenses, and certificates reinstated on or after that date.

Except as otherwise provided, this act is effective when it becomes law.