121-40. Assessment of land or improvements subject to agreement.
For purposes of taxation, land and improvements subject to a conservation or preservation agreement shall be assessed on the basis of the true value of the land and improvement less any reduction in value caused by the agreement. (1979, c. 747, s. 7.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 121 - Archives and History
Article 4 - Conservation and Historic Preservation Agreements Act.
§ 121-37 - Acquisition and approval of conservation and preservation agreements.
§ 121-38 - Validity of agreements.
§ 121-39 - Enforceability of agreements.
§ 121-39.1 - Termination or modification of agreements.
§ 121-40 - Assessment of land or improvements subject to agreement.