Property Tax Relief Programs
Applications Due June 1, 2023
North Carolina offers three property tax relief programs for the permanent residence of qualified homeowners.
Elderly or Disabled Exclusion: This program excludes the greater of the first $25,000 or 50% of the appraised value of the permanent residence of a qualifying owner. A qualifying owner must be at least 65 years of age or totally and permanently disabled. The owner cannot have an income amount for the previous year that exceeds the income eligibility limit for the current year, which for the 2023 tax year is $33,800. Totally and permanently disabled applicants must provide form AV-9A with application.
Disabled Veteran Exclusion: This program excludes up to the first $45,000 of the appraised value of the permanent residence of a disabled veteran. A disabled veteran is defined as a veteran whose character of service at separation was honorable or under honorable conditions and who has a total and permanent service-connected disability or who received benefits for specially adapted housing under 38 U.S.C. 2101. There is no age or income limitation for this program. This benefit is also available to a surviving spouse (who has not remarried) of either (1) a disabled veteran as defined above, (2) a veteran who died as a result of a service-connected condition whose character of service at separation was honorable or under honorable conditions, or (3) a servicemember who died from a service-connected condition in the line of duty and not as a result of willful misconduct. Form NCDVA-9 must be provided with application. For assistance with form NCDVA-9 please contact the Veterans Office at (828) 631-2231.
Circuit Breaker Tax Deferment Program: Under this program, taxes for each year are limited to a percentage of the qualifying owner’s income. A qualifying owner must either be at least 65 years of age or be totally and permanently disabled and have owned and occupied the residence for the previous five years. For an owner whose income amount for the previous year does not exceed the income eligibility limit for the current year, which for the 2023 tax year is $33,800, the owner’s taxes will be limited to four percent (4%) of the owner’s income. For an owner whose income exceed the income eligibility limit ($33,800) but does not exceed 150% of the income eligibility limit, which for the 2023 tax year is $50,700, the owner’s taxes will be limited to five percent (5%) of the owner’s income. The difference between the taxes due and the taxes that would have been payable in the absence are a lien on the real property. The deferred taxes for the preceding three fiscal years are due and payable when the property loses its eligibility. Requires an annual application.
Please contact Laura Estridge for additional information at (828) 586-7545 or firstname.lastname@example.org