§ 105-274. Property subject to taxation. - North Carolina Statutes

Article12.

Property Subject toTaxation.

§ 105‑274.  Propertysubject to taxation.

(a)        All property, realand personal, within the jurisdiction of the State shall be subject to taxationunless it is:

(1)        Excluded from thetax base by a statute of statewide application enacted under the classificationpower accorded the General Assembly by Article V, § 2(2), of the North CarolinaConstitution, or

(2)        Exempted fromtaxation by the Constitution or by a statute of statewide application enactedunder the authority granted the General Assembly by Article V, § 2(3), of theNorth Carolina Constitution.

(b)        No provision ofthis Subchapter shall be construed to exempt from taxation any propertysituated in this State belonging to any foreign corporation unless the contextof the provision clearly indicates a legislative intent to grant such anexemption. (1939, c. 310, ss. 303, 1800; 1961, c. 1169, s. 8;1967, c. 1185; 1971, c. 806, s. 1.)