North Carolina HB 539: Revenue Neutral Rate Required.

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
H 1
HOUSE BILL 539

Short Title: Revenue Neutral Rate Required. (Public)
Sponsors: Representative Blust.
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
Referred to: State and Local Government, if favorable, Finance, if favorable, Rules, Calendar,
and Operations of the House
March 27, 2025
*H539-v-1*
A BILL TO BE ENTITLED 1
AN ACT TO REQUIRE UNITS OF LOCAL GOVERNMENT TO ADOPT A REVENUE 2
NEUTRAL TAX RATE IN THE YEAR OF A GENERAL REAPPRAISAL. 3
The General Assembly of North Carolina enacts: 4
SECTION 1. G.S. 159-13 reads as rewritten: 5
"§ 159-13. The budget ordinance; form, adoption, limitations, tax levy, filing. 6
... 7
(c) The budget ordinance of a local government shall levy taxes on property at rates that 8
will produce the revenue necessary to balance appropriations and revenues, after taking into 9
account the estimated percentage of the levy that will not be collected during the fiscal year. The 10
budget ordinance of a public authority shall be balanced so that appropriations do not exceed 11
revenues. 12
(c1) For every year in which a general reappraisal of real property has been conducted in 13
a local government, the budget ordinance of that local government shall levy taxes on property 14
for that year at the revenue-neutral tax rate set out in G.S. 159-11(e). 15
...." 16
SECTION 2. This act is effective when it becomes law and applies to budget 17
ordinances passed on or after that date. 18