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5 <br />LAW OFFICES <br />COLEMAN, GLEDHILL, HARGRAVE •& PEEK <br />A PROFESSIONAL CORPORATION <br />l29 E. TRYON STREET" <br />P. O. DRAWER 1529 <br />HILLSBOROUGH, NORTH CAROLINA 27278 JUl 2, 2 0 0 9 <br />919.732-2196 y <br />FAX 919-732.7997 <br />www.cghp•law.com <br />Mr. John Smith <br />Orange County Tax Assessor <br />Post Office Box 8181 <br />Hillsborough, North Carolina 27278 <br />FROM THE DESK OF <br />GEO)~1 REY E. GLEDHILL <br />E-MAIL: ggledTiill@cghp-law.com <br />RE: Mi11 Creek II, Section Two - Phase A properties <br />PIN: 9836-44-3431 (Parcel 04), 9836-43-8539 (Parcel <br />05), 9836-42-5807 (Parcel 06), 9836-41-1932 (Parcel <br />0 7 ). <br />Dear John: <br />All real property in the State of North Carolina is subject <br />to taxation unless it is excluded or exempted from taxation. <br />N.C. Gen. Stat. § 105-274. <br />(a) The value of real and personal property owned by a <br />nonprofit homeowners' association shall be included in the <br />appraisals of property owned by members of the association <br />and shall not be assessed against the association if: <br />(1) All property owned by the association is held <br />for the use, benefit, and en-ioyment of all <br />members of the association equally; <br />(2) Each member of the association has an <br />irrevocable right to use and enjoy, on an equal <br />basis, all property owned by the association, <br />subject to any restrictions imposed by the <br />instruments conveying. the right or the rules, <br />regulations, or bylaws of the association; and <br />(3} Each irrevocable right to use and enjoy ail <br />property owned by the association is <br />~purtenant to taxable real property owned by a <br />member of the association. <br />The assessor may allocate the value of the association's <br />property among the property of the association's members on <br />any fair and reasonable basis. <br />(b) As used in. this section, "nonprofit homeowners' <br />association" means a homeowners' association as defined in <br />528{c) of the Internal Revenue Code. (1979, c. 686, s. 1; <br />1987, c. 130.) <br />F:\Lisa\letters\JOhn Smith ltr re Walker Mill Creek prop.doc <br />