NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 965

HOUSE BILL 883

 

 

AN ACT TO AMEND G. S. 105-280 AS THE SAME APPLIES TO CALDWELL AND ALEXANDER COUNTIES SO AS TO FIX THE VALUATION DATE FOR INVENTORIES FOR AD VALOREM PROPERTY TAX PURPOSES AS THE FIRST DAY OF TAXPAYER'S FISCAL YEAR.

 

The General Assembly of North Carolina do enact:

 

Section 1. When property required to be listed in Caldwell and Alexander Counties pursuant to G. S. 105-280 consists of inventories including goods held for resale, raw materials, goods in process and other goods and materials held and used in connection with the taxpayer's mercantile or manufacturing business such inventories shall be listed as directed in G. S. 105-280 except that in the case of a fiscal year taxpayer the value placed on such property shall be its value on the first day of the taxpayer's last fiscal year which began prior to the date on which such property is required to be listed for ad valorem tax purposes.

Sec. 2. This Act shall apply only to Caldwell and Alexander Counties.

Sec. 3. All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4. This Act shall become effective on January 1, 1968.

In the General Assembly read three times and ratified, this the 27th day of June, 1967.