NC H647

Creates a new "conservation holder" category defined as nonprofit or private charitable corporations organized to receive and administer agricultural, horticultural, or forestland for the purpose of preserving such land uses in perpetuity

Adds conservation holders to the list of entities whose land qualifies as "individually owned" for present-use value taxation, allowing these organizations to receive the same reduced property tax assessment as individual farmers and landowners

Allows land transferred to a conservation holder to maintain its present-use value classification if the land was already appraised at present-use value, the new owner files a timely application, and the owner certifies acceptance of liability for any deferred taxes

Exempts conservation holder-owned property from actual production or income requirements as long as the taxpayer remains a conservation holder and continues using the land for conservation purposes

Effective for taxes imposed for taxable years beginning on or after July 1, 2026