NC S592

Clarifies that present use value (PUV) applications must be submitted on a form prescribed by the Department and made available by the assessor.

Requires the Department to include on the application a listing of types of relevant information needed to establish proof of eligibility and properly appraise property at present-use value.

Maintains existing deadlines for initial PUV applications: during the regular listing period or within 30 days of receiving a change in valuation notice.

Requires new applications only when property is transferred or becomes ineligible due to change in use or acreage, with transfer applications due within 60 days of the property's transfer date.

Effective for taxes imposed for taxable years beginning on or after July 1, 2015.