North Carolina § 105-277 - 6. Agricultural, horticultural and forestland - Appraisal; computation of deferred tax.

§ 105-277. 6. Agricultural, horticultural and forestland - Appraisal; computation of deferred tax.

In determining the amount of the deferred taxes herein provided, the assessor shall use the appraised valuation established in the county's last general revaluation except for any changes made under the provisions of G.S. 105-287. In revaluation years, as provided in G.S. 105-286, all property entitled to classification under G.S. 105-277.3 shall be reappraised at its true value in money and at its present use value as of the effective date of the revaluation. The two valuations shall continue in effect and shall provide the basis for deferred taxes until a change in one or both of the appraisals is required by law. The present use-value schedule, standards, and rules shall be used by the tax assessor to appraise property receiving the benefit of this classification until the next general revaluation of real property in the county as required by G.S. 105-286. Repealed by Session Laws 1987, c. 295, s. 2. History (1973, c. 709, s. 1; 1975, c. 746, ss. 9, 10; 1987, c. 45, s. 1; c. 295, s. 2.)