§ 105-282.7. Taxation of lessees and users of tax-exempt cropland or forestland.
Article12A.
Taxation of Lessees andUsers of Tax‑Exempt Cropland or Forestland.
§ 105‑282.7. Taxationof lessees and users of tax‑exempt cropland or forestland.
(a) When any croplandor forestland owned by the United States, the State, a county or a municipalcorporation is leased, loaned or otherwise made available to and used by aperson, as defined in G.S. 105‑273(12), in connection with a businessconducted for profit, the lessee or user of the property is subject to taxationto the same extent as if the lessee or user owned the property. As used in thissection, "forestland" has the same meaning as in G.S. 105‑277.2(2),and "cropland" means agricultural land and horticultural land asdefined in G.S. 105‑277.2(1) and (3) respectively.
(b) This section doesnot apply to cropland or forestland for which payments in lieu of taxes aremade in amounts equivalent to the amount of tax that could otherwise belawfully assessed.
(c) Taxes leviedpursuant to this Article are levied on the privilege of leasing or otherwiseusing tax‑exempt cropland or forestland in connection with a businessconducted for profit. The purpose of these taxes is to eliminate thecompetitive advantage accruing to profit‑making enterprises from the useof tax‑exempt property. (1981, c. 819, s. 1.)