CHAPTER 35: FINANCES AND TAXATION
Section
Taxation
   35.01   Authority to levy taxes
   35.02   Exclusive of bond taxes
Franchise Tax on Electric Power Companies
   35.15   Title
   35.16   Definitions
   35.17   Ratification of existing permits
   35.18   Levy of tax
   35.19   Period for which tax due
   35.20   Report and payment of tax
   35.21   Refunds
   35.22   Administration
   35.23   Confidentiality of records
   35.24   Provisions cumulative
   35.25   Service upon electric power companies
   35.26   Adoption date
 
   35.99   Penalty
TAXATION
§ 35.01 AUTHORITY TO LEVY TAXES.
   In order to raise sufficient funds to pay the current expenses of the town, the Board of Commissioners may each year levy and collect upon all the real and personal property within the town an annual ad valorem tax not in excess of $1.50 on each $100 in valuation of that property.
(1940 Code, Ch. D, Art. I, § 1)
§ 35.02 EXCLUSIVE OF BOND TAXES.
   The rate fixed for taxation in § 35.01 shall be exclusive of all rates levied for the payment of principal and interest upon bonds or notes of the town heretofore or hereafter issued, as to which taxes, bonds and notes there shall be no limit as to rate and for the payment of which the Board of Commissioners shall have authority to levy and collect upon all of the real and personal property within the town an unlimited tax.
(1940 Code, Ch. D, Art. I, § 2)
FRANCHISE TAX ON ELECTRIC POWER COMPANIES
§ 35.15 TITLE.
   This subchapter shall be known and may be cited as the “Town of Elkin of North Carolina’s Franchise Tax on Electric Power Ordinance,” and shall be codified as this subchapter.
(Ord. eff. 6-10-2002)
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