Posts Tagged ‘present use value’

New Property Tax Deferral Aimed at Economic Development Properties

Tuesday, May 13th, 2014

[UPDATE:  S.L. 2014-39 amended the site infrastructure deferral by eliminating the requriement that the property have previously been participating in the present use value deferral program for farmland and by changing the deferral calculation.  The updated post below reflects these changes.] This past year witnessed several milestones for deferred property taxes.  We celebrated the 40th birthday of […]

Time for PUV Reform in NC?

Thursday, May 31st, 2012

$200 million. That’s the estimated property tax revenue North Carolina’s 100 counties defer each year under the state’s present-use value (“PUV”) property tax exclusion program for farms and other favored properties. And by “defer,” I really mean “lose,” because most of those deferred PUV taxes will never be collected. The impact of PUV property on […]