§ 153A-317.17. Taxes authorized; rate limitation. - North Carolina Statutes

§ 153A‑317.17.  Taxes authorized; ratelimitation.

A county may levy property taxes within an economic development andtraining district, in addition to those levied throughout the county, for thepurposes listed in G.S. 153A‑317.11 within the district in addition to orto a greater extent than the same purposes provided for the entire county. Inaddition, a county may allocate to a district any other revenues whose use isnot otherwise restricted by law. The proceeds of taxes within a district may beexpended only to pay annual debt service on up to one million two hundredthousand dollars ($1,200,000) of the capital costs of a skills training centerprovided for the district and any other services or facilities provided by acounty in response to a recommendation of an advisory committee.

Property subject to taxation in a newly established district or in anarea annexed to an existing district is subject to taxation by the county as ofthe preceding January 1.

Such additional property taxes may not be levied within any districtestablished pursuant to this Article in excess of a rate of eight cents (8¢) oneach one hundred dollars ($100.00) value of property subject to taxation. (2003‑418, s. 1; 2004‑170, s. 39.)