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12.10.2014 Property Tax in North Carolina: Property Tax Assessment of Real Property
All real property is subject to ad valorem taxation in North Carolina unless it is constitutionally exempted or classified and excluded from taxation by statute. Real property is defined by the Machinery Act as “not only the land itself, but also buildings, structures, improvements, and permanent fixtures on the land, and all rights and privileges belonging or in any way appertaining to the property.