North Carolina S695 incentivizes private developer involvement in certain projects by allowing property tax deferrals for qualified improvements on.
North Carolina S695 facilitates private developer involvement in certain projects by allowing property tax deferrals for qualified improvements on residences. Owners can defer taxes on the increase in property value attributable to these improvements. This deferral applies to residences constructed by a builder and owned by the builder or a business entity. The deferral is subject to specific conditions, including the issuance of a certificate of occupancy and the property being unoccupied.
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