North Carolina 2023-2024 Regular Session

North Carolina Senate Bill S519

Introduced
4/3/23  

Caption

Property Tax Increase Limitation for Zoning

Impact

If enacted, SB 519 is expected to amend existing state laws related to property taxation and appraisal standards. The proposed changes would require that properties not be reassessed at a greater value just because of zoning unless the owner is utilizing the property according to the designated zoning activities. This could lead to a more stable economic environment for property owners, ensuring they are not faced with unintended tax increases that could arise from favorable zoning changes in their areas.

Summary

Senate Bill 519, entitled 'Property Tax Increase Limitation for Zoning,' proposes a limitation on property value increases during reappraisals that are solely attributable to favorable zoning ordinances. The bill specifies that increases in property appraisal values due to zoning changes can only be assessed if the property owner is actively engaged in activities permitted by the zoning ordinance. This legislative effort aims to protect property owners from sudden tax burdens associated with zoning changes that do not reflect actual usage of the land.

Sentiment

The sentiment surrounding SB 519 appears to be supportive among property owners and local advocates who see it as a necessary step to ensure fairness in property taxation. Proponents argue that this bill can potentially alleviate financial strain on landowners who would otherwise be penalized for zoning decisions beyond their control. However, there may be differing opinions among local governments that might view this limitation as reducing their ability to influence property valuations based on community development strategies.

Contention

Notable points of contention regarding SB 519 center around the balance of power between local governments and property owners. Some critics might argue that limiting property value increases tied to zoning could undermine local government revenues derived from property taxes, potentially impacting funding for community projects. Furthermore, there are discussions regarding the implications of a uniform appraisal standard across different areas, which may not take into account the unique economic conditions of various municipalities.

Companion Bills

No companion bills found.

Previously Filed As

NC H598

1% Property Tax Levy Limitation

NC H432

Property Tax Relief Study

NC S438

NCORR Administrative Modifications

NC SB131

Remove certain limitations on property tax levy increases.

NC HB865

Revise government entity limitations on property tax increases

NC SB117

Revise government entity limitations on property tax increases

NC H3803

Property Tax Millage Increase

NC S408

Property Tax Modifications

NC SB511

Revise government entity limitations on property tax increases

NC SB548

Eliminate government entity property tax levy limitations

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Relating To Property.