Southeastern Baptist Theological Seminary, Inc. v. Wake County

The Constitution of North Carolina, Article V, Section 5, declares in respect to property exempt from taxation, that “The General Assembly may exempt * * * property held for educational, scientific, literary, charitable or religious, purposes * * And pursuant to the authority so given by the Constitution the General Assembly has enacted' a statute, G.S. 105-296, declaring in pertinent part that “the following real property, and no 'other shall be exempted ■from taxation *'.■* *:.(4) Buildings, with the land actually occupied, wholly devoted to educational purposes, belonging to, actually and…