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<br />Article 12 of the North Carolina General Statutes and particularly Section
<br />105-274 reads as follows:
<br />`(a) A11 ro ert real and ersonal, within the 'urisdiction of the State shall
<br />be subject to taxation unless it s:
<br />(1) Excluded from the tax base b a statute of statewide applicaEion_
<br />enacted under the classification power accorded the General Assembly
<br />by Article v, Sec. 2(2), of the North Carolina Constitution, or
<br />(2) Exe___mpted from taxation by the Constitution orb a statute of
<br />Statew de a lication enacts under the•.=.authority granted the
<br />General Assembly y Article V, Sec. 2(3), of the North Carolina
<br />Constitution.'
<br />A reading of the Constitution of North Carolina in the appropriate section is as
<br />follows:
<br />'Article V, Section 2 (3) Exemptions. Property belonging to the State,
<br />counties, and municipal corporations shall be exempt from taxation. The
<br />General Assembly may exempt cemeteries and property held for educational,
<br />scientific, literary, cultural, charitable, or religious purposes, and,
<br />to a value not exceeding $'300 ,. any personal property. The General Assembly
<br />may exempt from taxatien not exceeding $1,000 in value of property held and
<br />used as the place of residence of the owner. Eve exem tion shall be on a
<br />State-wide basis and shall be made b eneral law uni orml a livable in
<br />eve count , cit and town, and other un t o local overnment. No toxin
<br />authorit other than the General Assembl ma rant exemptions, and the
<br />General Assembl shall not de le ate the owers accorded to it b this sub-
<br />sactxon.
<br />Considering then the above quoted and referred to sections of the General
<br />Statutes and the Constitution, it is the opinion of the County Attorney that the
<br />County does not have the authority to exempt the subject property from taxation:'.'
<br />The Board adopted appropriate orders reducing the 1975 valuation appealed by
<br />Texaco, Inc. (Chapel Hill Township, Tax Map 86 Block D Parcel i) from $165,800.
<br />to $155,700; reducing the 1975 valuation of the property of John A. Cates (Chapel
<br />Hill Township, Tax Map BS Block M Parcel 14) from $108,400. to $77,300; reducing the
<br />1975 valuation of the property of R. Harris Pope (Cedar Grove Township, Ta.x Map 26
<br />Parcel 3; appeal heard May 2, 1975) from $32,500.to $30,600; reducing the 1975
<br />valuation of that property identified as Chapel Hill Township, Tax Map 108 Parcel l0A
<br />appealed by Webb Development, Inc., #rom $4,900. to $1,200; reductina the 1975
<br />valuation of that property of Burlington Industrial Realty Company identified as
<br />Chapel Hill Township, Tax Map 28 Parcel 35 from $192,300. to $115,400.; reducing
<br />the 1975 valuations of that property of Burlington Industrial Realty Company identi-
<br />fied as Chapel Hill Township, Tax Map 27 Block A Parcel 2 from $270,300. to $141,600.
<br />The Board by appropriate order reduced the 1975 valuation of the Northwestern Mutual
<br />rife Building, West, apart of the University Square Complex in Chapel Hill (Tax
<br />Map 86 Block C Parcel 5), owned by Frank H. xenan, from 51,816,000 to $1,113,000,
<br />thereby reducing the total valuation of the University Square property from $10,710,500
<br />to $10,008,100 for 1975 and instructed the Tax Supervisor to review this valuation
<br />for the 1976 tax year in light of the building's income production and specifically
<br />its rate of occupancy.
<br />The Board by appropriate orders confirmed the 1975 valuation appealed by Lyda
<br />Eubanks Orgain (Chapel Hi11 Township, Tax Map 52 Parcel 2); confirmed the 1975
<br />valuation of that property of Webb ~velopment, Inc. in Chapel Hi11 Township
<br />identified as Tax Map 108 Parcel lO,lOB,11 and Tax Map 30 Parcel 2B; confirmed the
<br />1975 valuation of that property of Burlington Industrial Realty Company in Chapel
<br />Hill Township identified above on Tax Maps 41D and 41E (lots in Booker Creek Sub-
<br />division).
<br />The Board deferred resolution of the appeal by K. Carroll Kennedy pending further
<br />consideration and a determination as to whether a small portion of the subject pro-
<br />perty is in fact with an R-5 zone designated by the Town of Chapel Hill; the Board
<br />also deferred resolution of the appeal presented by x. Byron McCoy for Alpha Tau
<br />Dmega Fraternity pending further consideration and submission by Mr. McCoy of an
<br />appraisal report on'the subject property.
<br />The Board recessed to reconvene at 7:00 o'clock p.m., May 29, 1975 in the
<br />Commissioners Room of the Orange County Courthouse.
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<br />Flora x. Garrett, Chairman
<br />J
<br />William T. Laws, Acting Clerk
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