Present Use Value Program

The North Carolina General Assembly enacted the Present-Use Value Program, which allows reduced tax assessments for individually owned property used for agriculture, horticulture or forestry. Property accepted into this program is taxed at its “present use value” as a farm. This value is usually less than the market value of the property. The difference between the market value and the present use value is “deferred.” When the property or a portion of the property is removed from the program for any reason, the deferred taxes for the current year and the previous three years plus interest becomes due. Applications for this program are taken during the listing period in January of each year.

Basic Eligibility Requirements