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RALEIGH - North Carolina State University could avoid paying city and county property taxes on a $65 million hotel, conference center and golf course planned for Centennial Campus under an organizational structure established by a group of vice chancellors.
Emmett Curl, Wake County tax assessor, says charitable organizations such as the one being formed by the university to operate the recreational and meeting facilities are examined on a case-by-case basis. "Thats something we would have to look at when the property is in use," Curl says.
Based on Wake County and Raleigh tax rates, a property valued at $65 million would pay about $616,000 in property taxes annually.
The Business journal reported in the Feb. 15, 2002, issue that...