Bill > H950

This bill modifies the property tax homestead exclusion for elderly or disabled homeowners in North Carolina by making several key changes. The legislation increases the age requirement for qualifying from 65 to 70 years old, removes the previous income eligibility limit that capped annual income at $25,000, and expands the property tax exclusion to cover 100% of the appraised value of the residence (up from a previous maximum of 50%). These changes mean that homeowners who are 70 years or older or totally and permanently disabled, and who are North Carolina residents, can now receive a more generous property tax exemption without being constrained by income restrictions. The bill will take effect for taxes imposed in taxable years beginning on or after July 1, 2026, which gives local governments and property assessors time to prepare for the new regulations. By removing income limits and increasing the exclusion percentage, the bill aims to provide more comprehensive property tax relief for elderly and disabled homeowners in the state.

Budget and Finance

https://www.ncleg.gov/BillLookUp/2025/H950