At what age do you stop paying property taxes in north carolina

Property Tax Exclusion for Senior Citizens or Permanently Disabled Citizens

North Carolina excludes from property taxes a portion of the appraised value of a permanent residence owned and occupied by North Carolina residents who are at least 65 years of age OR who are certified as totally and permanently disabled, AND whose income does not exceed $31,900. (Income limit for 2022 -- limit is adjusted annually based on any cost of living adjustments to Social Security Benefits)

The amount of the appraised value of the residence that may be excluded from taxation is the greater of $25,000 or 50% of the appraised value of the residence. Income means all monies received from every source other than gifts or inheritances received from a spouse, lineal ancestor, or lineal descendant.

If you did not receive the exclusion last year, but are now eligible, you may obtain an application from the Tax Assessor’s Office or below under Related Documents. Those 65 or older need to complete Form AV-9 (Application for Property Tax Relief) only, others must also file Form AV-9A (Disability Certification) completed by a medical professional authorized to do so. This is a one-time application. It must be filed with the Tax Assessor's Office by June 1.

If you received this exclusion last year, you do not need to apply again unless you have changed your permanent residence or your income has increased to exceed the program limit. If you received the exclusion last year but the property no longer qualifies for any reason, please notify the assessor. Failure to notify the assessor that the property no longer qualifies for the exclusion may cause the property to be subject to discovery with penalties and interest pursuant to G.S. 105-312.

The qualifications for the Homestead Exclusion are as follows:

• Applicant must be a North Carolina Resident
• Applicant must be at least 65 years of age or totally and permanently disabled on or before January 1 of the current year
• Must own and occupy the permanent residence
• Applicant must meet the income eligibility requirement

A person is totally and permanently disabled if the person has a physical or mental impairment that substantially precludes them from obtaining gainful employment and the permanent disability is reasonably certain to continue without improvement through out their life.

Proof of disability must be in the form of a certificate from a physician licensed to practice medicine in North Carolina or from a Government Agency authorized to determine disability.

A disability letter from the Social Security Administration cannot be accepted as proof of disability, unless the letter meets the statutory requirements.

A person’s legal residence is the dwelling, the dwelling site (not to exceed one acre of land) and related improvements. A residence is a house, condo or manufactured home.

PROOF OF INCOME WILL BE REQUIRED

Income consists of ALL money received from every source EXCEPT gifts or inheritances. For married applicants residing with their spouses, the income of both spouses must be included whether or not the property is in both names. All W-2’s or 1099’s must be submitted as proof of income.

TEMPORARY ABSENCE
A qualified owner does not lose the benefit of this exclusion because of a temporary absence from their permanent residence for reasons of health, or because of an extended absence while confined to a rest home or nursing home so long as the residence is unoccupied or occupied by the owner’s spouse or other dependent.

REMOVAL OF EXCLUSION BECAUSE OF SALE OR DEATH
If the sale of your residence or death occurs between January 1 and July 1 of the current year, the exclusion will be removed for the current year’s tax bill.

If the sale of your residence or death occurs after July 1 of the current year, the exclusion will be removed for the following year’s tax bill.

The exclusion amount is the GREATER OF $25,000 OR 50% of the assessed value of the home and up to one acre of land.

An application for this exclusion should be filed during the regular listing period (January 1-31), however, it may be filed and accepted at any time up to June 1. If approved, you do not have to file a new application each year. If there are any changes in income, use of the property and/or ownership, a new application must be filed. Periodically a request from our office will be sent for updated income verification. This information will be required to maintain the benefit.

When property is owned by two or more persons and one or more of them qualifies for this exclusion, each owner must apply separately for their share of the exclusion. Husband and wife are on the same application.

Social Security number information is mandatory and will be used to establish the identification of the applicant, {42 U.S.C. Section 405(c)(2)(C)(i)}.

Does North Carolina have a property tax discount for seniors?

Does South Carolina give seniors a break on property taxes?

Do veterans pay property tax in NC?

Is there a homestead exemption in NC?