Bill Summary for H 492 (2019-2020)
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Summary date:
May 1 2019
Bill Information:
| View NCGA Bill Details | 2019-2020 Session |
AN ACT TO SIMPLIFY THE PROPERTY TAX EXCLUSION FOR INCREASES IN VALUE OF PROPERTY HELD BY A BUILDER.Intro. by Brody, Howard, B. Turner.
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Bill summary
House committee substitute makes the following changes to the 2nd edition.
Makes conforming change to GS 105-277.02 to require a builder to apply for the property tax exclusion as provided in GS 105-282.1, as amended, thereby requiring a single application unless subsequent changes necessitate a review of the benefit rather than requiring an annual application for the benefit.