AN ACT to require assessors to provide written notice to property owners of certain information related to the revaluation of real property.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 105‑317 is amended by adding a new subsection to read:

(b1)    Within 30 days of the completion of the revaluation of real property required by G.S. 105‑286, it shall be the duty of the assessor to see that notice of the following is given in writing to the owner:

(1)        The appraised value of the property based upon the most recent revaluation.

(2)        The appraised value of the property based upon the revaluation immediately preceding the most recent revaluation.

(3)        The percentage increase or decrease between subdivisions (1) and (2) of this subsection.

(4)        The total ad valorem tax due on the property in the year immediately preceding the most recent revaluation.

(5)        The property tax rate applicable in determining subdivision (4) of this subsection.

SECTION 2.  G.S. 105‑328 is amended by adding a new subsection to read:

(b1)    Within 30 days of the completion of the revaluation of real property conducted pursuant to subsection (b) of this section, it shall be the duty of the assessor to see that notice of the following is given in writing to the owner:

(1)        The appraised value of the property based upon the most recent revaluation.

(2)        The appraised value of the property based upon the revaluation immediately preceding the most recent revaluation.

(3)        The percentage increase or decrease between subdivisions (1) and (2) of this subsection.

(4)        The total ad valorem tax due on the property in the year immediately preceding the most recent revaluation.

(5)        The property tax rate applicable in determining subdivision (4) of this subsection.

SECTION 3.  This act is effective for reappraisals effective on or after January 1, 2024.