North Carolina H539 requires local governments to set a revenue-neutral tax rate during years of general property reappraisal.

North Carolina H539 mandates that local governments adopt a revenue-neutral tax rate in the year of a general reappraisal of real property. This means that the tax rate must be set so that the revenue collected will balance the local government's appropriations and revenues, considering the estimated percentage of the levy that will not be collected. This requirement applies to budget ordinances passed after the act becomes law.

North Carolina H539 requires local governments to set a revenue-neutral tax rate during years of general property reappraisal.

North Carolina H539 mandates that local governments adopt a revenue-neutral tax rate in the year of a general reappraisal of real property. This means that the tax rate must be set so that the revenue collected will balance the local government's appropriations and revenues, considering the estimated percentage of the levy that will not be collected. This requirement applies to budget ordinances passed after the act becomes law.