AG 1997 03 17 - Laserfiche WebLink

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GENERAL ASSEMBLY OF NORT~ CAROLINA SESSION 1997 1 (c} Ballot Question. -- The form of the question to be 2 presented on a ballot for a special election concerning the levy 3 of the tax authorized by this Article shall be: 4 [ ] FOR [ ] AGAINST 5 temporary county real property transfer tax at the rate of one 6 dollar ($1.00) on each one hundred dollars ($100.00) of value or 7 consideration, to be used only for public school capital 8 projects. 9 (d) Subsequent Elections. -- If a county has previously levied 10 a tax under this Article and the tax is no longer in effect, the 11 county may levy a new tax in accordance with this Article. An 12 election regarding the levy of a subsequent tax may not be held~ 13 however, earlier than 90 days after the expiration or repeal of. 14 the previous tax under this Article. 15 "S 105-228.52. Levy and collection of tax. 16 If the majority of those voting in a referendum held pursuant 17 to this Article vote for the levy of the tax, the board of 18 commissioners of the county may, by resolution, levy an excise 19 tax on instruments conveying interests in real property located 20 in that county at the rate of one dollar ($1.00) on each one 21 hundred dollars ($100.00) of the consideration or value, 22 whichever is greater, of the interest conveyed, including the 23 value of any lien or encumbrance remaining on the property at the 24 time of sale. This tax is in addition to the tax levied by 25 Article 8E of this Chapter. Upon adoption of the resolution, the 26 board of commissioners shall send a certified copy to the 27 register of deeds of the county. 28 Collection of the tax, and liability therefor, shall begin and 29 continue only on and after the first day of a calendar month set 30 by the board of county commissioners in the resolution levying 31 the tax, which may not be earlier than the first day of the 32 second succeeding calendar month after the date the resolution is 33 adopted. 34 "S 105-228.53. Scope and administration of tax. 35 A tax levied under this Article does not apply to transfers 36 exempt pursuant to G.S. 105-228.28 or G.S. 105-228.29 from the 37 tax levied by Article 8E of this Chapter. A tax levied under 38 this Article applies to transfers of interests in real property 39 located within the taxing county, except that if the.property is 40 located in two or more counties, a transfer of an interest in the 41 property is taxable only by the county in which the greater part 42 of the property, with respect to value, lies. 43 A tax levied under this Article is payable by the transferor of 44 the interest. The county register of deeds shall credit the -- 97-LCX-117A ~ Page 5