Application deadline is June 1. You may qualify for a reduction of your property taxes.To be eligible, you must be either 65 or older, or totally and permanently disabled. A North Carolina resident. Elderly Homestead Exclusion applicant must be 65 years of age or older as of January 01 preceding the taxable year. Also called the Elderly or Disabled Homestead Exclusion. Applicants must be 65 years of age or totally and permanently disabled as of January 1. You may be qualified for the Homestead Exemption if: -YOU ARE at least 65 years of age on January 1st of the tax year in which you wish to claim the exemption. Elderly or Disabled Exclusions: Applicants must be 65 years of age or totally and permanently disabled. North Carolina offers several property tax relief programs for residents and businesses.