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NC S178
Bill
AI Summary
- Amends G.S. 105-284 to create a specific tax assessment method for self-service storage facilities in North Carolina
- Assessed value must be based on land value plus improvements, minus normal depreciation and obsolescence, excluding "business intangible value"
- Defines "business intangible value" as any value exceeding the depreciated replacement cost of improvements plus land value
- Uses the existing definition of "self-service storage facility" from G.S. 44A-40
- Effective for taxable years beginning on or after July 1, 2026
Legislative Description
Assessment of Self-Storage Facilities
Public
Last Action
Ref To Com On Rules and Operations of the Senate
2/27/2025
Committee Referrals
Rules and Operations of the Senate2/27/2025
Full Bill Text
No bill text available