(a) through (c) Repealed by Session Laws 1987, c. 813, s. 9, effective for taxable years beginning on or after January 1, 1988.
(d) All bona fide indebtedness incurred in the purchase of fertilizer and fertilizer materials owing by a taxpayer as principal debtor may be deducted from the total value of all fertilizer and fertilizer materials as are held by such taxpayer for his own use in agriculture during the current year.
(e) Repealed by Session Laws 1987, c. 813, s. 9, effective for taxable years beginning on or after January 1, 1988.
(f) Repealed by Session Laws 1977, c. 869, s. 1.
(g) Buildings equipped with a solar energy heating or cooling system, or both, are hereby designated a special class of property under authority of Article V, Sec. 2(2) of the North Carolina Constitution. Such buildings shall be assessed for taxation in accordance with each county's schedules of value for buildings equipped with conventional heating or cooling systems and no additional value shall be assigned for the difference in cost between a solar energy heating or cooling system and a conventional system typically found in the county. As used in this classification, the term "system" includes all controls, tanks, pumps, heat exchangers and other equipment used directly and exclusively for the conversion of solar energy for heating or cooling. The term "system" does not include any land or structural elements of the building such as walls and roofs nor other equipment ordinarily contained in the structure.
(h) Private Water Companies. - Contributions in aid of construction and acquisition adjustments. In assessing the property of any private water company, there shall be excluded that portion of the investment of the company represented by contributions in aid of construction and by acquisition adjustments which is designated a special class of property under Article V, Sec. 2(2) of the Constitution. "Investment," "contributions in aid of construction" and "acquisition adjustment" shall have the meanings as those terms are defined in the Uniform System of Accounts specified by the North Carolina Utilities Commission for use by such private water company.
(i) Repealed by Session Laws 1987, c. 622, s. 5. (1947, c. 1026; 1955, c. 697, s. 1; 1961, c. 1169, ss. 6, 7, 71/2; 1963, c. 940; 1971, c. 806, s. 1; 1973, c. 511, s. 4; c. 695, s. 2; 1975, c. 578; 1977, c. 869, s. 1; c. 965; 1979, c. 605, s. 1; 1985, c. 440; c. 656, ss. 52, 52.1; 1985 (Reg. Sess., 1986), c. 947, s. 5; 1987, c. 622, s. 5; c. 813, s. 9; 2003-416, s. 20.)
§ 105-277.001: Repealed by Session Laws 2001-424, s. 34.15, as amended by Session Laws 2002-126, 30A.1, effective July 1, 2002.
Notes of Decisions
In Re Fls Owner II, LLC, 781 S.E.2d 300 (N.C. Ct. App. 2016).
· cites it 56× “Application of N.C. Gen.Stat. § 105-277(g) FLS contends the County used an arbitrary or illegal method to appraise the value of the system and that this appraised value "substantially exceeded" the system's "true value" as defined by North Carolina's Tax Code.”
Innovative 55, LLC v. Robeson Cnty., 801 S.E.2d 671 (N.C. Ct. App. 2017).
· cites it 2× “, N.C. Gen. Stat. § 105-277 (g) (2015) (providing reduced tax rates for buildings equipped with solar energy heating and/or cooling systems).”
Clinchfield R.R. v. Lynch, 605 F. Supp. 1005 (E.D.N.C. 1985).
· cites it 6× “By contrast, N.C.G.S. § 105-277(a) is clearly designed to benefit the tobacco industry particularly those businesses which warehouse tobacco.”
In Re the Appeal of Forsyth Cnty., 203 S.E.2d 51 (N.C. 1974).
· cites it 2× “The parties agree that the resolution of this controversy depends upon the interpretation of G.S. 105-277 (a) (1971). The act provides: “Agricultural Products in Storage.”
In re R.J. Reynolds Tobacco Co., 278 S.E.2d 575 (N.C. Ct. App. 1981).
· cites it 3× “G.S. 105-277(a). The clear import of Appeal of Forsyth County is that tobacco is an agricultural product under N.”
In re the Appeal of R. J. Reynolds Tobacco Co., 327 S.E.2d 607 (N.C. Ct. App. 1985).
· cites it 14× “N.C. Gen. Stat. § 105-277 (a) (1979) provides that any agricultural product held in storage by a manufacturer or processor for manufacturing or processing which product is of such a nature to customarily require storage for more than one year in order to age or condition the…”
— N.C. Gen. Stat. § 105-277(a) — 4 cases
Clinchfield R.R. v. Lynch, 605 F. Supp. 1005 (E.D.N.C. 1985).
“By contrast, N.C.G.S. § 105-277(a) is clearly designed to benefit the tobacco industry particularly those businesses which warehouse tobacco.”
In re R.J. Reynolds Tobacco Co., 278 S.E.2d 575 (N.C. Ct. App. 1981).
“G.S. 105-277(a). The clear import of Appeal of Forsyth County is that tobacco is an agricultural product under N.”
In re the Appeal of R. J. Reynolds Tobacco Co., 327 S.E.2d 607 (N.C. Ct. App. 1985).
“N.C. Gen. Stat. § 105-277 (a) (1979) provides that any agricultural product held in storage by a manufacturer or processor for manufacturing or processing which product is of such a nature to customarily require storage for more than one year in order to age or condition the…”
— N.C. Gen. Stat. § 105-277(g) — 1 case
In Re Fls Owner II, LLC, 781 S.E.2d 300 (N.C. Ct. App. 2016).
“Application of N.C. Gen.Stat. § 105-277(g) FLS contends the County used an arbitrary or illegal method to appraise the value of the system and that this appraised value "substantially exceeded" the system's "true value" as defined by North Carolina's Tax Code.”
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