What is the Present Use Value Assessment program?
In 1973, the North Carolina General Assembly enacted legislation enabling county tax departments to consider the value of land based on its current use rather than its market value when assessing for property taxation. The intent of the Present Use Value Assessment program is to provide tax relief to landowners who soundly manage their land to produce an agricultural, horticultural or forestry commodity and to protect these tracts of land from being sold because of higher taxes brought on by appreciating land values and higher market assessments.
