Bill Summary for H 168 (2015-2016)

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Bill: EXEMPT BUILDERS' INVENTORY.

Summary date: 

Aug 24 2015
S.L. 2015-223

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 168 (Public) Filed Thursday, March 5, 2015
AN ACT TO EXEMPT FROM PROPERTY TAX THE INCREASE IN VALUE OF REAL PROPERTY HELD FOR SALE BY A BUILDER, TO THE EXTENT THE INCREASE IS ATTRIBUTABLE TO SUBDIVISION OR IMPROVEMENTS BY THE BUILDER.
Intro. by Hager, Millis, Brody, Collins.

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Bill summary

AN ACT TO EXEMPT FROM PROPERTY TAX THE INCREASE IN VALUE OF REAL PROPERTY HELD FOR SALE BY A BUILDER, TO THE EXTENT THE INCREASE IS ATTRIBUTABLE TO SUBDIVISION OR IMPROVEMENTS BY THE BUILDER. Enacted August 18, 2015. Effective for taxes imposed for taxable years beginning on or after July 1, 2016, and applies to subdivision or other improvements made on or after July 1, 2015.