§ 160A-58.3. Annexed area subject to city taxes and debts. - North Carolina Statutes

§ 160A‑58.3. Annexed area subject to city taxes and debts.

From and after the effective date of the annexation ordinance, theannexed area and its citizens and property are subject to all debts, laws,ordinances and regulations of the annexing city, and are entitled to the sameprivileges and benefits as other parts of the city. Real and personal propertyin the newly annexed territory on the January 1 immediately preceding thebeginning of the fiscal year in which the annexation becomes effective is subjectto municipal taxes as provided in G.S. 160A‑58.10. If the effective dateof annexation falls between June 1 and June 30, and the privilege licenses ofthe annexing city are due on June 1, then businesses in the annexed area areliable for privilege license taxes at the full‑year rate. (1973, c. 1173, s. 2; 1975, c. 576, s. 5; 1977, c.517, s. 7.)