Senate committee substitute to the 1st edition makes the following changes.
Amends GS 105-317 (applicable to counties) and GS 105-328 (applicable to towns and cities) by amending the content of the notice that the assessor must give an owner after the revaluation of real property by removing (1) the total ad valorem tax that would be due on the property based on the appraised value of the property pursuant to the most recent revaluation and the property tax rate applicable in determining total ad valorem tax due in the year immediately preceding the most recent revaluation, (2) the annual property tax revenue for the county/city or town for revalued real property for every year of the prior revaluation cycle, and (3) the projected annual property tax revenue for the county/city or town for the revalued real property based on the appraised value of the property pursuant to the most recent revaluation in the county/city or town and the property tax rate applicable in determining the total ad valorem tax due in the year immediately preceding the most recent revaluation. Instead, requires including in the notice the property tax rate applicable in determining the total ad valorem tax due in the year immediately preceding the most recent revaluation.
Changes the act's effective date so that it is now effective for reappraisals effective on or after January 1, 2024 (was, for taxes imposed for taxable years beginning on or after July 1, 2023).
TAXPAYER TRANSPARENCY ACT.
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| View NCGA Bill Details(link is external) | 2023-2024 Session |
AN ACT TO REQUIRE ASSESSORS TO PROVIDE WRITTEN NOTICE TO PROPERTY OWNERS OF CERTAIN INFORMATION RELATED TO THE REVALUATION OF REAL PROPERTY.Intro. by Daniel, Perry, Galey.
Bill History:
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Wed, 8 Mar 2023 Senate: Filed(link is external)
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Thu, 9 Mar 2023 Senate: Passed 1st Reading(link is external)
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Mon, 26 Jun 2023 Senate: Reptd Fav Com Substitute(link is external)
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Mon, 26 Jun 2023 Senate: Com Substitute Adopted(link is external)
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Tue, 27 Jun 2023 Senate: Reptd Fav(link is external)
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Wed, 28 Jun 2023 Senate: Passed 2nd Reading(link is external)
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Wed, 28 Jun 2023 Senate: Passed 3rd Reading(link is external)
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Wed, 28 Jun 2023 Senate: Special Message Sent To House(link is external)
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Wed, 28 Jun 2023 House: Special Message Received From Senate(link is external)
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Wed, 28 Jun 2023 House: Passed 1st Reading(link is external)
Bill Summaries:
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Bill S 234 (2023-2024)Summary date: Jun 26 2023 - View Summary
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Bill S 234 (2023-2024)Summary date: Mar 8 2023 - View Summary
Amends GS 105-317 (applicable to counties) and GS 105-328 (applicable to towns and cities) by requiring the assessor, within 30 days of completing the revaluation of real property, to see that notice of the following is given to the owner in writing: (1) the appraised value of the property based upon the most recent revaluation, (2) the appraised value of the property based upon the revaluation immediately preceding the most recent revaluation, (3) the percentage increase or decrease between those two values, (4) the total ad valorem tax due on the property in the year immediately preceding the most recent revaluation, (5) the total ad valorem tax that would be due on the property based on the appraised value of the property pursuant to the most recent revaluation and the property tax rate applicable in determining number 4 above, (6) the annual property tax revenue for the county/city or town for revalued real property for every year of the prior revaluation cycle, and (7) the projected annual property tax revenue for the county/city or town for the revalued real property based on the appraised value of the property pursuant to the most recent revaluation in the county/city or town and the property tax rate applicable in determining number 4 above.