Property Tax Incentives:
Current Use Programs:
Statute: § 105 277.3. N.C. GEN. STAT. §105-277.4.
Method of Assessment: "Present Use" based on the income approach for timber, agricultural lands and horticulture; standing timber may constitutionally be excluded for taxation.
Application: An initial application must be filed during the regular listing period of the year for which the benefit of this classification is first claimed, or within 30 days of the date shown on a notice of a change in valuation made pursuant to G.S. 105 286.
Renewal: A new application is not required to be submitted unless the property is transferred or becomes ineligible for use value appraisal because of a change in use or acreage. An application required due to transfer of the land may be submitted at any time during the calendar year but must be submitted within 60 days of the date of the property's transfer
Penalty: Any property owner who fails to notify the assessor of changes as aforesaid regarding land receiving the benefit of this classification shall be subject to a penalty of ten percent (10%) of the total amount of the deferred taxes and interest thereon for each listing period for which the failure to report continues.
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Current Use Taxation for open-space land:
North Carolina has no current use taxation to promote open space or recreation.
View all states with no current use taxation to promote open-space land
Tax incentive specifically for providing access:
North Carolina has no tax incentives to provide hunter access.
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Tax Incentive when land is subject to Conservation Easement:
North Carolina has no tax incentives for land subject to conservation easements.
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North Carolina provides an income tax credit for the donation of conservation easements.
Statute: Taxation - § 105-151.12 (Individuals); § 105-130.34 (Corporations) - Credit for certain real property donations.
Program: For individuals and corporations – There is a list of 9 requirements that donations must meet in order to qualify. Among these requirements that may qualify for open space are fish/wildlife conservation (III); forest/farmland conservation (IV); or natural areas, defined as “area of land… that... retains or has reestablished its natural character (VI). The income tax credit to individuals is 25% of the appraised fair market value not to exceed $250,000, with $500,000 allowed for joint filings of husbands and wife when both are required to file. The carry over period is for five years. A developer cannot get the credit to meet density requirements for development. Corporations that donate under section 105-130.34 can receive up to $500,000 of the appraised fair market value.
Tax: 6% to 7.75% (depending on income)
View all states with tax incentives for donation of land or conservation easement
Hunter Access Program:
View all states with no hunter access programs