Removes nine tracts, as described, from the corporate limits of the Town of Fuquay-Varina. Provides a savings clause for the validity of any liens of the City for outstanding ad valorem taxes or special assessments. Effective June 30, 2023. Deems property in the described territory as of January 1, 2023, no longer subject to municipal taxes for taxable years beginning on or after July 1, 2023.