§ 105-601. Levy. - North Carolina Statutes

§ 105‑601.  Levy.

(a)        Authority. – If themajority of those voting in a referendum held pursuant to this Article vote forthe levy of the tax, the board of county commissioners may, by resolution andafter 10 days' public notice, levy a local land transfer tax on instrumentsconveying interests in real property located in the county, up to a rate offour‑tenths percent (0.4%), in increments of one‑tenth percent(0.1%).

(b)        Vote. – The boardof county commissioners may direct the county board of elections to conduct anadvisory referendum on the question of whether to levy a local land transfertax in the county as provided in this Article. The election shall be held on adate jointly agreed upon by the board of county commissioners and the board ofelections and shall be held in accordance with the procedures of G.S. 163‑287.

(c)        Ballot Question. – Theform of the question to be presented on a ballot for a special electionconcerning the levy of the tax authorized by this Article shall be:

"[ ] FOR           [ ] AGAINST

Real property transfer tax atthe rate of up to [X] percent [X%] of value or consideration."

(d)        Resolution. – Theboard of county commissioners must, upon adoption of a resolution levying a taxunder this Article, immediately deliver a certified copy of the resolution tothe register of deeds of the county, accompanied by a certified statement fromthe county board of elections setting forth the results of the special electionapproving the tax in the county. Upon receipt of these documents, the registerof deeds shall administer the tax in the county as provided in this Article.

(e)        Limitation. – A taxlevied under this Article may not be in effect in a county at the same time asa tax levied under Article 46 of this Chapter. (2007‑323, s. 31.17(a).)