Assessment of Self-Storage Facilities.

SB 178 modifies how self-storage facilities are taxed in North Carolina by changing the property assessment standard. It excludes "business intangible value" (such as future profits or brand value) from the taxable assessment, requiring counties to base taxes only on the land and depreciated improvements. This directly affects self-storage facility owners, as their property taxes will now be calculated differently starting in 2026. The bill updates existing tax law to align with a specific definition of self-storage facilities from state code.