NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 243

HOUSE BILL 480

 

 

AN ACT RELATING TO AD VALOREM PROPERTY TAX PENALTIES AND DISCOUNTS FOR THE TOWN OF MORGANTON.

 

The General Assembly of North Carolina do enact:

 

Section 1. G. S. 105-345 is hereby amended by adding a new paragraph at the end thereof to read as follows:

"Notwithstanding any of the provisions of this Section, there shall be no discount allowed for the prepayment of property taxes owed to the City of Morganton. Any property taxes due to the City of Morganton which are paid on or before the first day of February of the year following the year in which the same are due, shall be paid at par or face amount. When the tax is paid during the month of February after the year in which the same is due and payable, there shall be added to the tax, interest at the rate of one per cent (1%). When the tax is paid during the month of March following the year in which the same is due, there shall be added to the tax, interest at the rate of two per cent (2%). When the tax is paid on or after the first day of April following the year in which the same is due and payable, there shall be charged, in addition to the two per cent (2%), an additional interest at the rate of one half of one per cent (1/2 of 1%) per month, or fraction thereof, on the principal amount from said date."

Sec. 2. Chapter 182 of the Session Laws of 1953 and Chapter 126 of the Session Laws of 1965 are hereby repealed, insofar as the same relate to the discounts and penalties applicable to prepayment or late payment of ad valorem property taxes owed to the City of Morganton.

Sec. 3. This Act shall apply only to the City of Morganton.

Sec. 4. All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 5. This Act shall become effective on July 1, 1967, and the same shall apply only to taxes due for the taxable year 1968 and thereafter.

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