A BILL TO BE ENTITLED
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 total ad valorem tax that would be due on the property based upon (i) the appraised value of the property pursuant to the most recent revaluation and (ii) the property tax rate applicable in determining subdivision (4) of this subsection.
(6)	The annual property tax revenue for the county for real property revaluated pursuant to G.S. 105‑286 for every year of the prior revaluation cycle.
(7)	The projected annual property tax revenue for the county for real property revaluated pursuant to G.S. 105‑286 based upon (i) the appraised value of the property pursuant to the most recent revaluation in the county and (ii) 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 total ad valorem tax that would be due on the property based upon (i) the appraised value of the property pursuant to the most recent revaluation and (ii) the property tax rate applicable in determining subdivision (4) of this subsection.
(6)	The annual property tax revenue for the city or town for real property revaluated pursuant to subsection (b) of this section for every year of the prior revaluation cycle.
(7)	The projected annual property tax revenue for the city or town for real property based upon (i) the appraised value of the property according to the most recent revaluation in the city or town and (ii) the property tax rate applicable in determining subdivision (4) of this subsection."
SECTION 3.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 2023.