2005 North Carolina Code - General Statutes § 105-277.9. Taxation of property inside certain roadway corridors.

§ 105‑277.9.  Taxation of property inside certain roadway corridors.

Real property that lies within a transportation corridor marked on an official map filed under Article 2E of Chapter 136 of the General Statutes is designated a special class of property under Article V, Sec. 2(2) of the North Carolina Constitution and is taxable at twenty percent (20%) of the general tax rate levied on real property by the taxing unit in which the property is situated if:

(1)       As of January 1, no building or other structure is located on the property; and

(2)       The property has not been subdivided, as defined in G.S. 153A‑335 or G.S. 160A‑376, since it was included in the corridor. (1987, c. 747, s. 22; 1998‑184, s. 2.)