Quick poll question: does your local government annually write off all property taxes that are more than 10 years old? (I bet everyone reading this post just nodded yes.) Okay, second poll question: where in the Machinery Act are local governments authorized to write off all taxes that are more than 10 years old? (I bet everyone reading this post just shrugged.)
Quick poll question: does your local government annually write off all property taxes that are more than 10 years old? (I bet everyone reading this post just nodded yes.) Okay, second poll question: where in the Machinery Act are local governments authorized to write off all taxes that are more than 10 years old? (I bet everyone reading this post just shrugged.)
In addition to local funding sources, municipalities receive some financial assistance from the State to help pay for the construction, maintenance and repair of municipal streets. The legislation that first established this distribution is known as the Powell Bill (after its principal sponsor in the North Carolina Senate), and the moneys distributed to the municipalities are referred to as Powell Bill funds. This year the legislature made a few significant changes to the Powell Bill fund authority in the state budget.
In addition to local funding sources, municipalities receive some financial assistance from the State to help pay for the construction, maintenance and repair of municipal streets. The legislation that first established this distribution is known as the Powell Bill (after its principal sponsor in the North Carolina Senate), and the moneys distributed to the municipalities are referred to as Powell Bill funds. This year the legislature made a few significant changes to the Powell Bill fund authority in the state budget.
There was a lot of buzz around sales tax reform during the past legislative session. Several different proposals were introduced, ranging from changing the allocation methods of existing local sales taxes to converting local sales taxes to state taxes. Many of the efforts were aimed at providing increased resources to rural areas in the state; some at the expense of more urban areas.
There was a lot of buzz around sales tax reform during the past legislative session. Several different proposals were introduced, ranging from changing the allocation methods of existing local sales taxes to converting local sales taxes to state taxes. Many of the efforts were aimed at providing increased resources to rural areas in the state; some at the expense of more urban areas.
On October 20, 2015, the Governor signed Session Law (S.L.) 2015-277, placing into effect several “clarifications” to the primary economic development statute used by local governments, G.S.
On October 20, 2015, the Governor signed Session Law (S.L.) 2015-277, placing into effect several “clarifications” to the primary economic development statute used by local governments, G.S.
After posts on the new builders’ inventory exclusion (here and here) and on new rules for the waiver of interest on old motor vehicle taxes, one final new property tax law deserves its own blog post. S.L.
After posts on the new builders’ inventory exclusion (here and here) and on new rules for the waiver of interest on old motor vehicle taxes, one final new property tax law deserves its own blog post. S.L.