Bill > S349

This bill modifies property tax relief programs for elderly or disabled homeowners in North Carolina by making several key changes. The bill adjusts the income eligibility limits for property tax homestead exclusion and circuit breaker programs, introducing a new joint income eligibility limit set at 115% of the individual income limit. It eliminates the previous system of tax deferral for the property tax homestead circuit breaker, replacing it with a direct tax exemption for qualifying homeowners. The bill clarifies definitions around income and joint income for married couples, ensuring that combined spousal income is considered when determining eligibility. Additionally, the legislation modifies rules for multiple property owners, allowing each qualifying owner to separately apply for property tax relief when a residence is jointly owned. The bill also removes provisions related to deferred taxes, including references to tax deferral in local government record-keeping and tax receipts. These changes are designed to simplify the property tax relief process for elderly and disabled homeowners and will take effect for taxes imposed in taxable years beginning on or after July 1, 2026.

Budget and Finance

https://www.ncleg.gov/BillLookUp/2025/S349