North Carolina excludes from property taxes a portion of the appraised value of a permanent residence owned and occupied by North Carolina residents aged 65 or older or totally and permanently disabled whose 2024 income does not exceed $37,900 annually.

Qualifying homeowners, including disabled veterans and seniors, can exempt up to $150,000 based on the value assessment of their home. Qualifying homeowners age 18 and older can exempt up to $400,000 in property value. Qualifying homeowners can get a property tax credit up to $425 in 2024.

“What is the Homestead Exclusion?” The Homestead Exclusion was created by the North Carolina General Assembly to provide tax relief for senior citizens and persons certified as fully and permanently disabled.

North Carolina defers a portion of the property taxes on the appraised value of a permanent residence owned and occupied by a North Carolina resident who has owned and occupied the property at least five years, is at least 65 years of age or is totally and permanently disabled, and whose income does not exceed $56,850.

In addition to the age/disability requirement, the 2024 income of the homeowner (including both incomes if married and living together) must not exceed $37,900. “Income” is defined by statute as “all moneys received from every source” other than gifts or inheritances from certain family members.

North Carolina differs from most state homestead laws by not specifying an acreage limit, but only allowing up to $1,000 worth of property to be declared a homestead.

Tax Relief Programs Elderly or Disabled Homestead Exemption. Elderly or Disabled Property Tax Deferral (Circuit Breaker) ... Disabled Veteran Homestead Exclusion. Present-Use Value Assessment. Builder Property Tax Exemptions. Historic Property Deferral.

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AV-10 Application is for property classified and excluded from the tax base under North Carolina General Statute. 2024 Application for Property Tax Relief. Documents.Contact Information. To request an application for exemption, please call our office at 919-856-5400. Application deadline is June 1. Must be a North Carolina resident; Ownership is determined as of January 1st; One time application required. Deadline to submit application is June 1. North Carolina General Statutes allow for certain types of property to be exempt from property taxes.

Property Tax Exemption In Nc In North Carolina

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