GS 105-277.8 currently allows the value of real and personal property owned by a nonprofit homeowners’ association to be included in the assessments of the property owners and not the association if certain criteria are satisfied. Act amends the list of criteria to add a requirement that all of the property owned by the association be contained entirely within the same taxing jurisdiction as the member-owned property. Effective for taxable years beginning on or after July 1, 2011.