Historic Building Deferred Tax Program

Real property designated as a historic structure or site by a local ordinance adopted pursuant to G.S. 160A-399.4 or designated as a historic landmark by a local ordinance adopted pursuant to G.S. 160A-400.5 is designated a special class of property under the authority of Article V, Section 2(2) of the North Carolina Constitution.

Property classified as historic is taxed uniformly in each local taxing unit on the basis of fifty percent (50%) of the true value of the property as determined pursuant to G.S. 105-285 and 105-286, or 105-287. After a property has been designated as historic property, the owner is required to submit a completed historic deferment application with the Department of Tax Administration. The deferred taxes will not become due unless or until the property loses its eligibility for the benefit of this classification. This could occur because of a change in an ordinance designation or a change in the property, which causes its historical significance to be lost or substantially impaired.