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NC S615
Bill
AI Summary
- Local government governing boards must vote specifically on whether to adopt a revenue-neutral tax rate during any year when a general reappraisal of real property is conducted
- If a majority votes in favor, the local government must set property taxes at the revenue-neutral rate as defined in G.S. 159-11(e)
- If a majority votes against the revenue-neutral rate, the governing board may set tax rates through the standard budget process to balance appropriations and revenues
- Effective upon becoming law and applies to all budget ordinances passed after that date
Legislative Description
Property Tax Rate Transparency Act
Public
Last Action
Held As Filed
3/25/2025
Full Bill Text
No bill text available