AN ACT to limit the taxes levied on real property to one percent of the property's assessed value.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 105‑284 reads as rewritten:

§ 105‑284.  Uniform assessment standard.

(a)        Except as otherwise provided in this section, all property, real and personal, shall be assessed for taxation at its true value or use value as determined under G.S. 105‑283 or G.S. 105‑277.6, and taxes levied by all counties and municipalities shall be levied uniformly on assessments determined in accordance with this section.

(a1)      Unless otherwise expressly provided by this Subchapter, taxes levied on real property by a county, municipality, or other taxing district shall not exceed one percent (1%) of the property's assessed value.

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SECTION 2.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 2023.