North Carolina Homestead Act
STATE OF NORTH CAROLINA,
YEAR 2008 COUNTY OF _____________________
APPLICATION FOR EXCLUSION UNDER G.S. 105-277.1
PROPERTY TAX RELIEF FOR ELDERLY AND PERMANENTLY DISABLED PERSONS
North Carolina excludes from property taxes the greater of twenty-five thousand
dollars ($25,000) or fifty percent (50%) of the appraised value of a permanent
residence owned and occupied by a qualifying owner. A qualifying owner is an
owner who meets all of the following requirements as of January 1 preceding the
taxable year for which the benefit is claimed:
(1) Is at least 65 years of age or totally and permanently disabled.
(2) Has an income for the preceding calendar year of not more than twenty-five
thousand dollars ($25,000).
(3) Is a North Carolina resident.
Income is defined as all moneys received from every source other than gifts or
inheritances received from a spouse, lineal ancestor, or lineal descendant. For
married applicants residing with their spouses, the income of both spouses must
be included, whether or not the property is in both names.
If a claimant's income for 2007 was $4,000.00 and this person had $6,000.00 in
Social Security benefits which were not taxable, his income for 2007 would be
$10,000.00. Assuming this was all of the claimantâ€™s income for 2007 and he was
at least 65 years of age or totally and permanently disabled, he would qualify
for the Homestead Exclusion for tax year 2008.
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