North Carolina § 105-277 - 9. Taxation of property inside certain roadway corridors.

§ 105-277. 9. Taxation of property inside certain roadway corridors.

Real property that lies within a transportation corridor marked on an official map filed under Article 2E of Chapter 136 of the General Statutes is designated a special class of property under Article V, Sec. 2(2) of the North Carolina Constitution and is taxable at twenty percent (20%) of the appraised value of the property if each of the following requirements is met: As of January 1, no building or other structure is located on the property. The property has not been subdivided, as defined in G.S. 153A-335 or G.S. 160A-376, since it was included in the corridor. History (1987, c. 747, s. 22; 1998-184, s. 2; 2011-30, s. 1.) Effect of Amendments. - Session Laws 2011-30, s. 1, effective for taxes imposed for taxable years beginning on or after July 1, 2011, substituted "appraised value of the property if each of the following requirements is met" for "general tax rate levied on real property by the taxing unit in which the property is situated if" in the introductory paragraph; and substituted "located on the property" for "located on the property; and" in subdivision (1).