NORTH CAROLINA GENERAL ASSEMBLY
1979 SESSION

CHAPTER 10
HOUSE BILL 126

AN ACT TO POSTPONE THE COMMENCEMENT OF INTEREST ON DELINQUENT PROPERTY TAXES IN BRUNSWICK COUNTY.

The General Assembly of North Carolina enacts:

Section 1. G.S. 105-360 is amended by adding a new subsection (e) to read as follows:
"(e)	For county and municipal taxes due under this Subchapter on September 1, 1978, the following interest rates shall apply. If paid:
(1)	on or after the due date and before the fourth day of March thereafter, taxes shall be paid at par or face amount.
(2)	on or after the fourth day of March following the due date and before the first day of April thereafter, there shall be added to the taxes interest at the rate of two percent (2%).
(3)	on or after the first day of April following the due date and before the first day of June thereafter, there shall be added to the taxes, in addition to the two percent (2%) provided in subdivisions (e)(2), above, interest at the rate of one and one-half percent (1 1/2%) per month, or fraction thereof.
(4)	on or after the first day of June following the due date, there shall be added to the taxes, in addition to the two percent (2%) and the one and one-half percent (1 1/2%) provided in subdivisions (e)(2) and (3), above, interest at the rate of three-fourths of one percent (3/4%) per month, or fraction thereof, until the taxes plus penalties and interest have been paid."
Sec. 2. Notwithstanding the provisions of G.S. 105-380 and 105-381, the board of county commissioners and the governing boards of municipalities shall refund any interest paid and release any interest accrued prior to March 4, 1979 pursuant to the provisions of G.S. 105-360(a) on taxes due September 1, 1978.
Sec. 3. This act is effective upon ratification.
Sec. 4. This act shall apply only to Brunswick County and to each municipality and taxing district within Brunswick County for which the county bills and collects property taxes.
In the General Assembly read three times and ratified, this the 6th day of June, 1979.