Which of the following statements is true regarding Ad Valorem taxation in North Carolina?

1. Real property is taxed according to its most recent sale price.

2. The Machinery Act requires reassessment tax purposes every 4 years.

3. Real property taxes and special assessments constitute an involuntary lien against property on

January 1st of the next year.

4. Tax rates are effective until the next revaluation year. - ANS - 3. Real property taxes and

special assessments constitute an involunt...
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