{"id":151,"date":"2026-05-19T22:06:19","date_gmt":"2026-05-19T22:06:19","guid":{"rendered":"https:\/\/northcarolinamovingjournal.com\/?p=151"},"modified":"2026-05-19T22:06:19","modified_gmt":"2026-05-19T22:06:19","slug":"nc-house-advances-property-tax-loophole-and-unc-system-construction-bills","status":"publish","type":"post","link":"https:\/\/northcarolinamovingjournal.com\/?p=151","title":{"rendered":"NC House advances property tax loophole and UNC system construction bills"},"content":{"rendered":"<div>\n<p><span>The North Carolina House voted unanimously Tuesday to advance a bill that closes a property tax loophole for affordable housing that\u2019s costing local governments tens of millions of dollars each year.\u00a0<\/span><\/p>\n<p>Read more <a href=\"https:\/\/northcarolinamovingjournal.com\/?p=149\">NC legislators look to Charlotte pilot to address \u2018boarding\u2019 crisis in emergency departments<\/a><\/p>\n<p><span>Closing the loophole would increase local governments\u2019 revenue by $22 million next fiscal year and $32.6 million by fiscal year 2030-31, according to estimates by the General Assembly\u2019s Fiscal Research Division.<\/span><\/p>\n<p><span>House Bill 1042<\/span><span>, \u201cAffordable Housing Exemption Mods,\u201d would make it more challenging for for-profit organizations to work with nonprofits to receive tax benefits. Such partnerships would need government funding to ensure affordability, NC Newsline <\/span><span>previously reported<\/span><span>.\u00a0<\/span><\/p>\n<p><span>Tax administrators in North Carolina have seen a dramatic increase in the use of existing low- and moderate-income tax breaks over the past five years, according to the bill\u2019s primary sponsor, Rep. Erin Par\u00e9 (R-Wake).\u00a0<\/span><\/p>\n<p><span>\u201cThe trajectory forward is particularly problematic as applications rise and the foregone revenue burden gets passed on to other mostly residential taxpayers,\u201d Par\u00e9 said.\u00a0<\/span><\/p>\n<p><span>The loophole comes from a 2013 case where the N.C. Court of Appeals ruled that Cane Creek Village, a low-income housing project in Mitchell County owned by a for-profit company but controlled by a nonprofit, was entitled to a property tax exemption under state law.\u00a0<\/span><\/p>\n<p>Read more <a href=\"https:\/\/northcarolinamovingjournal.com\/?p=147\">Rollback of NC alcohol laws passes committee vote, but Sunday ABC sales do not survive<\/a><\/p>\n<p><span>The House will take up a final vote on the bill on Wednesday.\u00a0<\/span><\/p>\n<h4>New student housing, dining and parking approved<\/h4>\n<p><span>The chamber also voted near-unanimously on Tuesday to approve $636 million in construction across five campuses of the University of North Carolina system.<\/span><\/p>\n<p><span>Under <\/span><span>House Bill 1123<\/span><span>, which received the support of every member except Rep. Pricey Harrison (D-Guildford), those projects will be funded through parking and housing funds collected by the university system rather than additional appropriations from the General Assembly.<\/span><\/p>\n<p><span>The most ambitious project, taking place at N.C. State University, will see the construction of new student housing and dining facilities for 3,000 students, replacing older facilities.<\/span><\/p>\n<p><span>Other projects in the bill are the construction of a new residence hall at UNC Chapel Hill and the demolition and replacement of Parker and Teague residence halls on campus; the renovation of a residence hall at UNC Charlotte; and the construction of a new parking deck at UNC Wilmington.<\/span><\/p>\n<p><span>The bill also aligns the residency requirement for admission to the North Carolina School of Science and Mathematics with the state\u2019s determination process for in-state tuition. And it includes a variety of other changes relating to tuition grants and the use of capital improvement funds.<\/span><\/p>\n<p>Read more <a href=\"https:\/\/northcarolinamovingjournal.com\/?p=145\">Gov. Josh Stein signs executive order to tackle housing affordability<\/a><\/p>\n<p><span>That bill heads to the Senate for approval next.<\/span><\/p>\n<p><i><span>Greg Childress contributed to this story. <\/span><\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>NC House advances bill closing a property tax loophole for affordable housing that would increase local governments\u2019 revenue by $22 million next fiscal year<\/p>\n","protected":false},"author":1,"featured_media":150,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NC House advances property tax loophole and UNC system construction bills - North Carolina Moving Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/northcarolinamovingjournal.com\/?p=151\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NC House advances property tax loophole and UNC system construction bills - 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