Tax Loophole Lets Developers Dodge Billions | Durham News

Wake County’s tax administrator stumbled upon a $770 million tax exemption glitch—only to discover it’s real and growing into a loophole where private developers exploit a 2013 court ruling meant for nonprofits. Now, a state bill to cap the break is stalled, leaving local governments scrambling as budgets bleed dry while developers argue the tax relief is vital for affordable housing in a rising cost world. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f51543b404fd6c84