AV-10 Application is for property classified and excluded from the tax base under North Carolina General Statute. "What are the benefits?You can use the North Carolina homestead exemption to exempt equity in your home, condominium, or coop if you or your dependents live on the property. North Carolina offers three Property Tax Relief programs for qualifying taxpayers. Property tax relief programs apply only to the permanent residence. Application deadline is June 1. Complete Sections 1 and 2 of the NCDVA-9 Form. 2.