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14 <br /> 1 Slide #2 <br /> 4 Limitations on Local Property Tax Authority <br /> 1. Uniformity clause of N.C. Constitution <br /> 2. "True value" appraisal standard <br /> 3. Limited refunds & releases <br /> 4. Appeal Process <br /> 2 <br /> 3 <br /> 4 Slide #3 <br /> 1. Uniformity of Classification/Taxation <br /> 5 <br /> 6 Chris McLaughlin said that only the General Assembly can set exemptions. <br /> 7 <br /> 8 Slide #4 <br /> North Carolina Constitution., Art. V., Sect. 2 <br /> • Property Tax Classifications& Exemptions: <br /> • Power delegated only to the General Assembly <br /> • Uniform and statewide <br /> • No local exemptions <br /> • Property Tax Rates: <br /> • One rate per jurisdiction EXCEPT for "special service districts" <br /> •Applies to all property: real and personal and RIVIVs <br /> 9 <br />