Homestead Exclusion for Senior and Disabled Citizens

North Carolina

2019

No Variation in Receipt of Benefits

Exemption

Qualifying owners shall receive an exemption from assessed value equal to the greater of the first $25,000 or 50% of the appraised value of the residence.

Exemption from assessed value

Residential

Only residential property is eligible for the relief. Up to one acre of land on which the residence is located is also eligible for the exclusion. Residential property can include a single family residence, an unit in a multi-dwelling complex, or a manufactured home.

Age

Disability

Homeowner

Income Ceiling

The applicant must be at least 65 years old or be totally and permanently disabled. They must not exceed an income threshold set forth below. Additionally, they must be a North Carolina resident. For 2019, an applicant's 2018 income cannot exceed $30,200. The limit was adjusted annually by the percentage of any cost-of-living adjustment made to Social Security. Income is defined as all money received from every source including Social Security benefits, retirement payments, proceeds from insurance policies, interest, dividends, etc. A person is totally and permanently disabled if they have a medical impairment that prevents them from obtaining gainful employment. It also must appear reasonably certain that the disability will continue without substantial improvement. Application deadline is 1 June annually.

Local government is unable to exercise an option

No local option regarding program features

Local government covers all of its tax loss

The statue is silent regarding whether or not the state reimburses the local governments for any tax loss.

NC101_RR19