| 1 | 1 | | GENERAL ASSEMBLY OF NORTH CAROLINA |
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| 2 | 2 | | SESSION 2025 |
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| 3 | 3 | | S D |
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| 4 | 4 | | SENATE BILL DRS45308-NIf-58D |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | Short Title: Property Tax Rate Transparency Act. (Public) |
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| 9 | 9 | | Sponsors: Senators Johnson and Daniel (Primary Sponsors). |
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| 10 | 10 | | Referred to: |
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| 11 | 11 | | |
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| 12 | 12 | | *DRS45308 -NIf-58D* |
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| 13 | 13 | | A BILL TO BE ENTITLED 1 |
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| 14 | 14 | | AN ACT TO REQUIRE UNITS OF LOCAL GOVERNMENT TO VOTE ON THE ISSUE OF 2 |
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| 15 | 15 | | WHETHER TO ADOPT A REVENUE -NEUTRAL TAX RATE IN THE YEAR OF A 3 |
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| 16 | 16 | | GENERAL REAPPRAISAL. 4 |
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| 17 | 17 | | The General Assembly of North Carolina enacts: 5 |
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| 18 | 18 | | SECTION 1. G.S. 159-13 reads as rewritten: 6 |
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| 19 | 19 | | "§ 159-13. The budget ordinance; form, adoption, limitations, tax levy, filing. 7 |
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| 20 | 20 | | … 8 |
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| 21 | 21 | | (c) The budget ordinance of a local government shall levy taxes on property at rates that 9 |
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| 22 | 22 | | will produce the revenue necessary to balance appropriations and revenues, after taking into 10 |
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| 23 | 23 | | account the estimated percentage of the levy that will not be collected during the fiscal year. The 11 |
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| 24 | 24 | | budget ordinance of a public authority shall be balanced so that appropriations do not exceed 12 |
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| 25 | 25 | | revenues. 13 |
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| 26 | 26 | | (c1) For every year in which a general reappraisal of real property is conducted in a local 14 |
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| 27 | 27 | | government, the governing board of that local government shall vote on the issue of whether to 15 |
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| 28 | 28 | | levy taxes on property for that year at the revenue-neutral tax rate set out in G.S. 159-11(e). If a 16 |
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| 29 | 29 | | majority of the governing board votes in favor of the issue, then the budget ordinance of that 17 |
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| 30 | 30 | | local government shall levy taxes on property for that year at the revenue-neutral tax rate set out 18 |
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| 31 | 31 | | in G.S. 159-11(e) and otherwise in accordance with subsection (c) of this section. If a majority 19 |
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| 32 | 32 | | of the governing board votes against the issue, then the governing board shall levy taxes in 20 |
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| 33 | 33 | | accordance with subsection (c) of this section. 21 |
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| 34 | 34 | | …." 22 |
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| 35 | 35 | | SECTION 2. This act is effective when it becomes law and applies to budget 23 |
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| 36 | 36 | | ordinances passed on or after that date. 24 |
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| 37 | 37 | | FILED SENATE |
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| 38 | 38 | | Mar 25, 2025 |
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| 39 | 39 | | S.B. 615 |
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| 40 | 40 | | PRINCIPAL CLERK |
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