Bill > S135

This bill increases the income eligibility limit for the elderly or disabled property tax homestead exclusion in North Carolina from $25,000 to $48,000, starting July 1, 2025. The bill modifies an existing law to raise the threshold for homeowners who can qualify for this tax relief program. For subsequent years beginning July 1, 2026, the income limit will be adjusted annually based on the cost-of-living adjustment made to Social Security benefits, rounded to the nearest $100. The Department of Revenue is required to calculate and notify county assessors of the updated income eligibility amount each year. This change aims to provide more property tax relief to elderly and disabled homeowners by allowing those with higher incomes to qualify for the homestead exclusion, which helps reduce their property tax burden.

https://www.ncleg.gov/BillLookUp/2025/S135