2009 North Carolina Code
Chapter 158 - Local Development.
§ 158-40. Tax exemption.
§ 158‑40. Tax exemption.
Property owned by the Region is exempt from taxation. This tax exemption does not apply to the lease, or other arrangement that amounts to a leasehold interest, of Region property to a private party, or to the income of the lessee, unless the property is leased solely for the purpose of the Region, in which case the activities of the lessee are considered the activities of the Region. (1993, c. 544, s. 1; 2005‑364, s. 1.)
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