Are there any laws related to the regulation of tax collection and assessment?

Yes, there are laws related to the regulation of tax collection and assessment in North Carolina. According to North Carolina General Statute 105-241, the state has the authority to regulate both the collection and assessment of taxes. Local governments are responsible for establishing procedures for collecting and assessing taxes, including setting tax rates, offering exemptions and deductions, and setting targeted tax rates for specific areas. The state also has laws in place that establish which local governments have the power to collect taxes. In addition, North Carolina has a number of laws that restrict local governments from raising taxes. For example, the state has a cap on property tax increases for most local governments, which limits the amount they can raise the tax rate each year. The state also enforces a “roll-back” law, which requires all local governments to roll back any tax increases that cause the total taxable value of property in a jurisdiction to exceed either the tax rate or the total taxable value of the previous year. Finally, North Carolina also has a number of laws in place to protect taxpayers from unfair or excessive taxation. For example, the state has a “Homestead Exemption” law, which exempts certain types of property, such as homes and agricultural land, from taxation. The state also has a “Tax Refund” law, which gives taxpayers the right to receive a refund if the total amount of taxes paid exceeds the amount authorized by law.

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Are there any laws related to the regulation of tax collection and assessment?

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