H350 Summary: Property Tax Exclusion for Conservation Land

• Expands G.S. 105-275(12) to allow nonprofit organizations to exclude conservation land from property tax base if held for educational/scientific purposes, wildlife habitat management, forest stewardship, public water/trail access, water quality protection, or future transfer to government units.

• Requires that land produce no income or only incidental income consistent with its conservation purpose to qualify for tax exclusion.

• Establishes deferred tax lien system where unpaid taxes accumulate over five years and become due if property experiences a disqualifying event (loss of conservation use, inconsistent income generation, or sale without perpetual conservation easement).

• Extinguishes tax liens if property is sold or transferred to local, state, or federal government for conservation purposes or subject to a recorded easement requiring perpetual conservation use.

• Effective for taxable years beginning on or after July 1, 2011.