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Agricultural Use-Value Taxation In North Carolina, 1974 And 1975

Author

Listed:
  • Pasour Jr., E.C.
  • Danielson, Leon E.

Abstract

The 1973 North Carolina General Assembly enacted legislation providing for differential assessment of qualifying agricultural, horticultural, and forestry lands. This use-value taxation legislation provides for qualifying land to be assessed for property tax purposes on the basis of its value in its present agricultural, horticultural or forestry use instead of at its market value. This report summarizes both the basic provisions of the farmland use-value legislation and the results of the Act in 1974 along with partial results in 1975. Data on participation under the use-value legislation were obtained from individual counties by the North Carolina Department of Revenue. Data were obtained concerning both use-value schedules and on applications made and approved for use-value taxation. Fewer than one-fourth of the counties approved applications for farmland use-value taxation in 1974, and taxes were deferred on only about 4,500 acres of cropland in all of North Carolina. Participation is expected to increase throughout North Carolina in the coming years as counties reach the year in which a countywide revaluation is required.

Suggested Citation

  • Pasour Jr., E.C. & Danielson, Leon E., 1975. "Agricultural Use-Value Taxation In North Carolina, 1974 And 1975," Department of Economics and Business - Archive 259541, North Carolina State University, Department of Economics.
    • Handle: RePEc:ags:ncbuar:259541
    DOI: 10.22004/ag.econ.259541
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    References listed on IDEAS

    as
    1. Hyman, D.N. & Pasour Jr., E.C., 1973. "Reducing Property Taxes In North Carolina: An Economic Analysis," Department of Economics and Business - Archive 259537, North Carolina State University, Department of Economics.
    2. Hady, Thomas F. & Sibold, Ann Gordon, 1974. "State Programs for the Differential Assessment of Farm and Open Space Land," Agricultural Economic Reports 307503, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. White, Brian J. & Pasour Jr., E. C. & Neuman, Duane F. & Danielson, Leon E., 1977. "An Analysis Of Use-Value Taxation In Wake And Wilson Counties, North Carolina, 1976," Department of Economics and Business - Archive 259544, North Carolina State University, Department of Economics.
    2. Long, Burl F. & Infanger, Craig L. & Danielson, Leon E., 1977. "Land Use Planning And Policy In The South," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 9(1), pages 1-9, July.

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    Keywords

    Land Economics/Use; Public Economics;

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