North Carolina § 105-462 - Local units entitled to benefits; prerequisite for payments.
Full text of North Carolina North Carolina General Statutes § 105-462 — Local units entitled to benefits; prerequisite for payments., with citation guidance and answers to common questions.
§ 105-462. Local units entitled to benefits; prerequisite for payments.
Any local governments within the State in which the Authority now or may hereafter own property or carry on an operation shall be entitled to the benefits arising under this Subchapter: Provided, however, that no payment shall be made to them by the Treasurer of the State of North Carolina until such time as such local governments shall have certified to the Department of Revenue and the Treasurer of the State of North Carolina the average annual tax loss it has sustained by the taking of said property for the two years immediately preceding the taking thereof: Provided, further, that in the event of any disagreement between said local governments and the Treasurer of the State of North Carolina as to such annual tax loss, then the same shall be determined by the Department of Revenue, and its decision thereon shall be final. History (1941, c. 85, s. 5; 1973, c. 476, s. 193.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 105-462
What does North Carolina General Statutes § 105-462 cover?
Section 105-462 ("Local units entitled to benefits; prerequisite for payments.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 105-462?
A common citation format is "North Carolina General Statutes § 105-462" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 105-462 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.