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That the Board of Commissioners of the Town of Coats shall, not oftener than annually, levy a tax on real and personal property situated within the limits of said town, not exceeding fifty cents on each one hundred dollars’ valuation, the constitutional equation to be ever observed.
(Pr. L. 1907, C. 409, Sec. 12)
Reference to a poll tax in this section has been deleted. Poll taxes prohibited, see North Carolina Constitution, Article V, Section 1.
Ad valorem taxation permitted up to $1.50 per $100 appraised valuation of property, see G.S. § 160A-209