§ 105-287. Changing appraised value of real property in years in which general reappraisal is not made. - North Carolina Statutes

§ 105‑287.  Changingappraised value of real property in years in which general reappraisal is notmade.

(a)        In a year in whicha general reappraisal of real property in the county is not made under G.S. 105‑286,the property shall be listed at the value assigned when last appraised unlessthe value is changed in accordance with this section. The assessor shallincrease or decrease the appraised value of real property, as determined underG.S. 105‑286, to recognize a change in the property's value resultingfrom one or more of the following reasons:

(1)        Correct a clericalor mathematical error.

(2)        Correct an appraisalerror resulting from a misapplication of the schedules, standards, and rulesused in the county's most recent general reappraisal.

(2a)      Recognize an increaseor decrease in the value of the property resulting from a conservation orpreservation agreement subject to Article 4 of Chapter 121 of the GeneralStatutes, the Conservation and Historic Preservation Agreements Act.

(2b)      Recognize an increaseor decrease in the value of the property resulting from a physical change tothe land or to the improvements on the land, other than a change listed insubsection (b) of this section.

(2c)      Recognize an increaseor decrease in the value of the property resulting from a change in the legallypermitted use of the property.

(3)        Recognize anincrease or decrease in the value of the property resulting from a factor otherthan one listed in subsection (b).

(b)        In a year in whicha general reappraisal of real property in the county is not made, the assessormay not increase or decrease the appraised value of real property, asdetermined under G.S. 105‑286, to recognize a change in value caused by:

(1)        Normal, physicaldepreciation of improvements;

(2)        Inflation,deflation, or other economic changes affecting the county in general; or

(3)        Betterments to theproperty made by:

a.         Repainting buildingsor other structures;

b.         Terracing or othermethods of soil conservation;

c.         Landscape gardening;

d.         Protecting forestsagainst fire; or

e.         Impounding water onmarshland for non‑commercial purposes to preserve or enhance the naturalhabitat of wildlife.

(c)        An increase ordecrease in the appraised value of real property authorized by this sectionshall be made in accordance with the schedules, standards, and rules used inthe county's most recent general reappraisal. An increase or decrease inappraised value made under this section is effective as of January 1 of theyear in which it is made and is not retroactive. The reason for an increase ordecrease in appraised value made under this section need not be under thecontrol of or at the request of the owner of the affected property. Thissection does not modify or restrict the provisions of G.S. 105‑312concerning the appraisal of discovered property.

(d)        Notwithstandingsubsection (a), if a tract of land has been subdivided into lots and more thanfive acres of the tract remain unsold by the owner of the tract, the assessormay appraise the unsold portion as land acreage rather than as lots. A tract isconsidered subdivided into lots when the lots are located on streets laid outand open for travel and the lots have been sold or offered for sale as lotssince the last appraisal of the property.  (1939, c. 310, ss. 301, 500; 1953, c. 970, s. 5;1955, c. 901; c. 1100, s. 2; 1959, c. 682; c. 704, s. 2; 1963, c. 414; 1967, c.892, s. 7; 1969, c. 945, s. 1; 1971, c. 806, s. 1; 1973, c. 695, s. 10; c. 790,s. 2; 1987, c. 655; 1997‑226, s. 4; 2001‑139, s. 2; 2008‑146,s. 1.2.)