Amends GS 105-286 (pertaining to times for general appraisal for real property) to specify that a property zoned to permit a particular activity may not be reappraised at a greater value solely as a result of such zoning unless the owner of the property actually engages in the permitted activity. Amends GS 105-328 (pertaining to listing, appraisal and assessment of property subject to taxation by cities and towns listed in more than one county) to require a local governing body to account for the limitation set forth in amended GS 105-286 when engaging in horizontal adjustments to equalize the appraisal and assessment values fixed by the counties. Makes conforming changes to GS 105-284 (uniform assessment standard) and GS 105-283 (uniform appraisal standards) to account for limitation on valuation set forth above.  

Effective when the act becomes law and applies to reappraisals occurring after January 1, 2024.