Property Tax Alert: North Carolina

August 2006

North Carolina legislation allows a governing unit to prorate the collection of property taxes for certain newly annexed property over a three-year period and delay the accrual of interest accordingly. This legislation applies to tax due for the partial fiscal year from October 1, 2005, through June 30, 2006, on property located in an area that was annexed between January 1, 2003, and January 1, 2006, where the annexation date was set through judicial order.

Please contact Rash & Associates for more information.