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GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
SESSION LAW 2026-47
SENATE BILL 474
*S474-v-7*
AN ACT TO ADJUST THE COUNTIES SUBJECT TO THE PROPERTY TAX
REAPPRAISAL MORATORIUM IN SESSION LAW 2026-8.
The General Assembly of North Carolina enacts:
SECTION 1. Section 1 of S.L. 2026-8 reads as rewritten:
"SECTION 1.(a) 2026 Taxable Year. – Notwithstanding any provision of law to the contrary
and effective only for the taxable year beginning July 1, 2026, every a county (i) with a population
of 15,000 or greater according to the latest federal decennial census and (ii) in which a reappraisal
of real property became effective as of January 1, 2026, shall not use the schedule of values
adopted by the board of county commissioners in accordance with that reappraisal that became
effective as of January 1, 2026, but shall instead use the schedule of values adopted in accordance
with the county's most recent previous reappraisal effective prior to January 1, 2026.
"SECTION 1.(b) 2027 and Future Taxable Years. – Notwithstanding any provision of law
to the contrary, effective fo r the taxable year beginning July 1, 2027, every a county (i) with a
population of 15,000 or greater according to the latest federal decennial census and (ii) in which
a reappraisal of real property became effective as of January 1, 2026, shall use the sch edule of
values adopted by the board of county commissioners in accordance with the January 1, 2026,
reappraisal until the adoption of a new schedule of values pursuant to a future reappraisal by the
county in accordance with G.S. 105-286 and subsection (c) of this section.
"SECTION 1.(c) Base Year Calculation. – Every A county to which this section applies
shall be deemed to have conducted its most recent reappraisal effective January 1, 2027, for
purposes of calculating the time for its next general reappraisal of real property under
G.S. 105-286.
"SECTION 1.(d) Property Tax Appeals. – Notwithstanding any provision of law to the
contrary, a taxpayer may appeal the listing or appraisal of real property in accordance with
Subchapter II of Chapter 105 o f the General Statutes during the 2026 calendar year for an
appraisal of real property that became effective as of January 1, 2026. A taxpayer that fails to
appeal an appraisal of real property subject to this section during the 2026 calendar year may
appeal the appraisal during the 2027 calendar year as if the appraisal became effective January
1, 2027 2027, provided that the real property is located in a county with a population of 15,000
or greater according to the latest federal decennial census. to which this section applies. A county
shall accept an appeal from a taxpayer subject to this section during the 2027 calendar year,
provided that the appeal is submitted in timely manner for an appraisal that became effective
January 1, 2027. Any adjustment made during the appeal process provided for under this section
is effective for the taxable year beginning July 1, 2027.
"SECTION 1.(e) Applicability. – This section applies to any county with a reappraisal of
real property that became effective as of January 1, 2026, unless the county is exempt as follows:
(1) General exemption. – A county that meets any of the following criteria is not
subject to this section:
a. Has a population of less than 12,000 according to the latest federal
decennial census.
Page 2 Session Law 2026-47 Senate Bill 474
b. Is in the year designated in G.S. 105-286(a)(2)a. and has a population
of less than 150,000, according to the latest federal decennial census.
c. Has levied a property tax rate , exclusive of any special tax area, in
excess of ninety-five cents (95¢) per one hundred dollars ($100.00) of
appraised value of property subject to taxation at any point in the prior
four taxable years.
(2) Revenue-neutral property tax rate exemption. – A county that meets all of the
following criteria is not subject to this section:
a. Is in an affected area, as defined in Section 1.4 of S.L. 2025-2.
b. Is not otherwise exempt under subdivision (1) of this subsection.
c. For the taxable year beginning July 1, 2026, adopts a property tax rate
at or below the rate equal to its revenue-neutral property tax rate
established under G.S. 159-11(e) rounded up to the next whole cent."
SECTION 2. The governing body of a unit of local government affected by
subsection 1(e) of S.L. 2026 -8, as amended by Section 1 of this act, after passing its budget
ordinance for the 2026-2027 fiscal year shall, unless subject to subdivision (2) of that subsection
in which the governing body may, amend that budget ordinance pursuant to G.S. 159-15 as if,
after July 1, the local government had received revenues substantially different than the amount
anticipated.
SECTION 3. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 2nd day of July, 2026.
s/ Rachel Hunt
President of the Senate
s/ Destin Hall
Speaker of the House of Representatives
s/ Josh Stein
Governor
Approved 9:45 a.m. this 7th day of July, 2026