State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_153A > GS_153A-15_1

§ 153A‑15.1.  Agreementto make payment in lieu of future ad valorem taxes required before wetlandsacquisition by a unit of local government.

(a)        Condemnation. – Notwithstandingthe provisions of G.S. 153A‑15, Chapter 40A of the General Statutes, orany other general law or local act conferring the power of eminent domain,before a final judgment may be entered or a final condemnation resolutionadopted in an action of condemnation initiated by a unit of local governmentwhose property is exempt from tax under Section 2(3) of Article V of the NorthCarolina Constitution, whereby the condemnor seeks to acquire land for thepurpose of wetlands mitigation, the condemnor shall agree in writing to pay tothe county where the land is located a sum equal to the estimated amount of advalorem taxes that would have accrued to the county for the next 20 years hadthe land not been acquired by the condemnor.

(b)        Purchase. – Notwithstandingthe provisions of G.S. 130A‑55, 153A‑15, 153A‑158, 160A‑240.1,or any other general law or local act conferring the power to acquire realproperty, before any unit of local government whose property is exempt from taxunder Section 2(3) of Article V of the North Carolina Constitution purchasesany land for the purpose of wetlands mitigation, the unit shall agree inwriting to pay to the county where the land is located a sum equal to theestimated amount of ad valorem taxes that would have accrued to the county forthe next 20 years had the land not been acquired by the acquiring unit.

(c)        Definition. – Forpurposes of this section, the "estimated amount of ad valorem taxes thatwould have accrued for the next 20 years" means the total assessed valueof the acquired land excluded from the county's tax base multiplied by the taxrate set by the county board of commissioners in its most recent budgetordinance adopted under Chapter 159 of the General Statutes, and thenmultiplied by 20.

(d)        Exception. – Thissection does not apply to any condemnation or acquisition of land by a city orspecial district if the land to be condemned or acquired is within thecorporate limits of that city or special district or within the county wherethe city or special district is located.

(e)        Application. – Thissection applies only to land acquired in counties designated as a developmenttier one area under G.S. 143B‑437.08. (2004‑188, s. 1; 2006‑252, s. 2.17.)