Bill > S474

This bill modifies the property tax reappraisal moratorium for certain counties in North Carolina, specifically impacting the taxable years beginning July 1, 2026, and July 1, 2027. For the 2026 taxable year, counties that had a real property reappraisal effective January 1, 2026, and meet specific population and reappraisal criteria, will not use the newly adopted schedule of values but will instead use the values from their previous reappraisal. For the 2027 taxable year and beyond, these counties will continue to use the January 1, 2026, reappraisal values until a future reappraisal is conducted. The bill also clarifies how these counties will calculate the timing for their next general reappraisal and allows taxpayers to appeal property appraisals during the 2026 and 2027 calendar years under specific conditions, with any adjustments becoming effective for the taxable year beginning July 1, 2027. The applicability of these provisions is limited to counties with a January 1, 2026, reappraisal that do not meet certain population thresholds, tax rate requirements, or are not designated as an "affected area" under a previous law.