GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION LAW 2000-36
The General Assembly of North Carolina enacts:
Section 1. Section 5.3 of the Charter of the Town of Badin, being Chapter 894, Session Laws of 1989, as rewritten by Section 1 of Chapter 827, Session Laws of 1991, reads as rewritten:
The Town Council may set an ad valorem
tax rate in excess of $.25 per $100 valuation only if the rate meets both of
the following conditions: (1) The percentage increase in the rate from
the previous year's rate does not exceed the percentage increase in the
Implicit GNP Price Deflator over the preceding year. (2) The increase in the rate does not exceed
ten percent (10%) of the rate that applied in the next preceding year.
The ad valorem tax rate set by the Town Council shall not exceed the previous year's rate by more than ten percent (10%)."
Section 2. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 30th day of June, 2000.
s/ Marc Basnight
President Pro Tempore of the Senate
s/ James B. Black
Speaker of the House of Representatives