§ 158-40. Tax exemption. - North Carolina Statutes

§ 158‑40.  Tax exemption.

Property owned by the Region is exempt from taxation. This taxexemption does not apply to the lease, or other arrangement that amounts to aleasehold interest, of Region property to a private party, or to the income ofthe lessee, unless the property is leased solely for the purpose of the Region,in which case the activities of the lessee are considered the activities of theRegion. (1993, c. 544, s. 1; 2005‑364,s. 1.)