N.C. Lawmakers to Give Homebuilders a Tax Break

June 30, 2015

Home builders in North Carolina have to pay property taxes just like any other homeowner for houses that aren’t sold yet. A proposed bill will reduce the tax they will have to pay.

According to the Charlotte Observer, under House Bill 168, builders would only be taxed on the lot’s value, as opposed to basing the tax on both the structure and the lot’s value.

Some lobbyists say the proposal is costly to the state, as a home under construction still requires public services such as fire protection or police. But proponents of the bills say that an unoccupied home has fewer demands for public services, and tax collected based on lot value alone will be enough to cover those demands.

Read more

Comments

expand_less