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Brownfield Tax Incentive
Owners of brownfield properties that have received Brownfield Agreements with the North Carolina Department of Environment and Natural resources (NCDENR) are entitled to the partial City and County property tax exclusions for the first five taxable years beginning after completion of qualifying improvements.  The following establishes the percentage of the appraised value of the qualified improvements that is excluded based on the taxable year, administered by NCDENR:

            Year 1 = 90%
            Year 2 = 75%
            Year 3 = 50%
            Year 4 = 30%
            Year 5 = 10%

Eligibility:
Geography: No geographical restrictions, but site must be certified by NCDENR as contaminated by eligible substance.

Business type:  No restriction.

Additional Information:

For more information on the Brownfield Tax Incentive contact Bruce Nicholson at NCDENR at 919-733-2801 ext 353.